Question: Please help 8. Consider a linear economic supplydemand model described by: Industrial Demands Consumer Supply Ener. Const. Trans. Steel Demand Energy : :01 = 0.4331

Please help

Please help 8. Consider a linear economic supplydemand model described by: Industrial

8. Consider a linear economic supplydemand model described by: Industrial Demands Consumer Supply Ener. Const. Trans. Steel Demand Energy : :01 = 0.4331 + 0.23:2 + 0.2563 + 0.2134 + 100 Construction : :62 = 0.3361 + 0.32:2 + 0.2333 + 0.1504 + 50 Transportation : :63 = 0.1331 + 0.1.762 + 0.23:4 | 100 Steel : m4 = 0.13:2 + 0.1563 + 0 Where 321 is the supply of energy, 3:2 is the supply of construction, 5133 is the supply of transportation, and x4 is the supply of steel, all in arbitrary \"units of supply\". (a) Write this system of equations in matrix form, being sure to dene the matrices and vectors you use. (b) Re-write this system, again in matrix form, such that only a single vector of constants (ale. numbers) is on the righthand side of the equals sign. (c) Convert your result from (b) into the general form, A33 2 1): express A in terms of the matrix dened in (a)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!