Lectures - 6.3 A Linear Economic Model

Quiz 6.3 #1

The production of one unit of lumber requires 0.2 unit of lumber and 0.1 unit of steel, and the production of steel requires 0.4 unit of lumber and 0.2 unit of steel. Find the technology matrix.

Quiz 6.3 #2

The production of 1 unit of cement requires 0.2 unit of cement and 0.6 unit of steel. Also the production of 1 unit of electricity requires 0.6 unit of cement and 0.1 unit of electricity. Also the production of 1 unit of steel requires 0.2 unit of cement, 0.4 unit electricity, and 0.3 unit of steel. The production schedule X = R1: 30 R2: 20 R3: 40. Find the external demand D which will be met by the production schedule.