Please help with this math question!

[mathhelp54]

Hi, I'm not sure if this is the correct forum to post this question in, but I don't even know where to start for this question - I think I might have to solve it as a a matrix, but I'm not sure. I'd appreciate any help, thank you!

A certain economy consists of three industries: mining, agriculture, and manufacturing. The production of 1 unit of metal requires the consumption of 0.2 units of metal, no produce, and 0.2 units of manufactured hardware. The production of 1 unit of produce requires the consumption of 0.1 units of metal, 0.1 units of produce, and 0.2 units of hardware. The production of 1 unit of hardware requires the consumption of 0.5 units of metal, no produce, and 0.3 units of hardware. Units are measured in millions of dollars.

a) Find the level of production for each industry, correct to one decimal place, in order to satisfy an external demand of $40 million worth of mining, $20 million worth of agriculture, and $70 million worth of manufacturing.

b) Find the value of goods consumed in the internal process of production in order to meet this total output.

 

[Deleted member 4993]

Hi, I'm not sure if this is the correct forum to post this question in, but I don't even know where to start for this question - I think I might have to solve it as a a matrix, but I'm not sure. I'd appreciate any help, thank you!

A certain economy consists of three industries: mining, agriculture, and manufacturing. The production of 1 unit of metal requires the consumption of 0.2 units of metal, no produce, and 0.2 units of manufactured hardware. The production of 1 unit of produce requires the consumption of 0.1 units of metal, 0.1 units of produce, and 0.2 units of hardware. The production of 1 unit of hardware requires the consumption of 0.5 units of metal, no produce, and 0.3 units of hardware. Units are measured in millions of dollars.

a) Find the level of production for each industry, correct to one decimal place, in order to satisfy an external demand of $40 million worth of mining, $20 million worth of agriculture, and $70 million worth of manufacturing.

b) Find the value of goods consumed in the internal process of production in order to meet this total output.

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[stapel]

Hi, I'm not sure if this is the correct forum to post this question in, but I don't even know where to start for this question - I think I might have to solve it as a a matrix, but I'm not sure.

What topics and methods have recently been covered in class? What was used for the worked examples in the book and in the classroom lecture? You're probably expected to do something similar.

A certain economy consists of three industries: mining, agriculture, and manufacturing. The production of 1 unit of metal requires the consumption of 0.2 units of metal, no produce, and 0.2 units of manufactured hardware. The production of 1 unit of produce requires the consumption of 0.1 units of metal, 0.1 units of produce, and 0.2 units of hardware. The production of 1 unit of hardware requires the consumption of 0.5 units of metal, no produce, and 0.3 units of hardware. Units are measured in millions of dollars.

a) Find the level of production for each industry, correct to one decimal place, in order to satisfy an external demand of $40 million worth of mining, $20 million worth of agriculture, and $70 million worth of manufacturing.

b) Find the value of goods consumed in the internal process of production in order to meet this total output.

They ask for levels of production for each industry, so it would probably be good to start by picking variables for these levels of production; say, "m" for "mining", "a" for "agriculture", and "h" for "manufactured hardware".

Then look at the limitations on the inputs. You can't have negative input levels, and they give you the upper limits (being in "units" of "millions of dollars", so you have 0 < m < 40, 0 < a < 20, and 0 < h < 70.

Then what? Please be complete. Thank you!