We assume that in a village there is a farmer, carpenter, and a tailor, who provide the three essential goods: food, shelter, and clothing. Suppose the farmer himself consumes 40% of the food he produces, and gives 30% to the carpenter, and 30% to the tailor. 20% of the carpenter's production is consumed by himself, 10% by the farmer, and 70% by the tailor. 70% of the tailor's production is used by himself, 10% by the farmer, and 20% by the carpenter. Write the matrix $A$ that describes this clo

In the closed model of Leontief with food, clothing, and housin... | Filo

You must c C reate an account to continue watching

Input-Output Analysis - Overview, Sample Table, Uses

Input-Output Tables | Definition, Charts & Examples