a) An economy has three industries, government (G), Agriculture (A) and manufacturing (M). The input output...

 

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a) An economy has three industries, government (G), Agriculture (A) and manufacturing (M). The input output table for three industries is given as: Output G From A M Primary inputs Input to G A 400 27 M Final demand 200 200 200 200 400 100 300 200 100 300 400 200 300 400 Calculate the total output required for each industry when the final demand changes to 300,350 and 450 for government, agriculture and manufacturing respectively (15 marks) b) Evaluate by means of integration by substitution: 2-6x (2x-3x²)³ Total output 1000 1000 1000 -dx (5 marks) c) Given the following equation Qx = 50-3Px -0.2P, +0.6Y, where P = 5, P = 7 and Y = 500 Calculate i) ii) The cross price elasticity of demand. What is the relationship between good x and good y. Explain. (3 marks) The income elasticity of demand (2 marks) a) An economy has three industries, government (G), Agriculture (A) and manufacturing (M). The input output table for three industries is given as: Output G From A M Primary inputs Input to G A 400 27 M Final demand 200 200 200 200 400 100 300 200 100 300 400 200 300 400 Calculate the total output required for each industry when the final demand changes to 300,350 and 450 for government, agriculture and manufacturing respectively (15 marks) b) Evaluate by means of integration by substitution: 2-6x (2x-3x²)³ Total output 1000 1000 1000 -dx (5 marks) c) Given the following equation Qx = 50-3Px -0.2P, +0.6Y, where P = 5, P = 7 and Y = 500 Calculate i) ii) The cross price elasticity of demand. What is the relationship between good x and good y. Explain. (3 marks) The income elasticity of demand (2 marks)

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Lets tackle each of the questions stepbystep a To calculate the total output required for each industry with the changed final demands we can use the ... View the full answer