An economy is modeled as having four sectors: transportation, energy, agricultur

Question

An economy is modeled as having four sectors: transportation, energy, agriculture, and textiles. Each unit of transportation requires .15 units of energy, .1 units of agriculture, and .12 units of textiles. Each unit of energy requires .25 units of transportation, .15 units of energy, and .25 units of agriculture. Each unit of agriculture requires .3 units of transportation, .2 units of energy, .12 units of agriculture, and .15 units of textiles. Each unit of textiles requires .2 units of transportation, .2 unites of energy, and .3 units of agriculture. How much of each should they produce to meet a demand of 700 units of energy, 650 units of agriculture, and 1000 units of textiles?

Use Excel to solve the problem

Explanation / Answer

Ans:

Step 1: Below shows the number of units of Transportation, Energy, Agriculture and Textiles required to generate 1 unit of Transportation, Energy, Agriculture and Textiles.

Step 2: Below shows the number of units of Transportation, Energy, Agriculture and Textiles required to generate 700 units of energy, 650 units of agriculture and 1000 units of textiles

Step 3: Final answer is

Transportation = 570 units

Energy = 520.5 units

Agriculture = 610 units

Textiles = 165.9 units

Total Units Required No. of Transportation Units Required No. of Energy Units Required No. of Agriculture Units Required No. of Textiles Units Required Transportation (1 Unit) 0.15 0.1 0.12 Energy (1 Unit) 700 0.25 0.15 0.25 Agriculture (1 Unit) 650 0.3 0.2 0.12 0.15 Textiles (1 Unit) 1000 0.2 0.2 0.3

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