Use the following information in Problems. The national economy of Swiziland has four products: agricultural products, machinery,
Question:
Use the following information in Problems. The national economy of Swiziland has four products: agricultural products, machinery, fuel, and steel. Producing 1 unit of agricultural products requires 0.2 units of agricultural products, 0.3 units of machinery, 0.2 units of fuel, and 0.1 units of steel. Producing 1 unit of machinery requires 0.1 units of agricultural products, 0.2 units of machinery, 0.2 units of fuel, and 0.4 units of steel.
Producing 1 unit of fuel requires 0.1 unit of agricultural products, 0.2 unit of machinery, 0.3 unit of fuel, and 0.2 unit of steel. Producing 1 unit of steel requires 0.1 unit of agricultural products, 0.2 unit of machinery, 0.3 unit of fuel, and 0.2 units of steel.
Create the technology matrix for this economy.
Step by Step Answer:
Mathematical Applications For The Management, Life And Social Sciences
ISBN: 9781337625340
12th Edition
Authors: Ronald J. Harshbarger, James J. Reynolds