Solve the problem.
-Suppose an economy consists of three sectors: Energy (E) , Manufacturing (M) , and Agriculture (A) Sector E sells of its output to and to .
Sector M sells of its output to E, to A, and retains the rest.
Sector A sells of its output to E, to , and retains the rest.
Denote the prices (dollar values) of the total annual outputs of the Energy, Manufacturing, and Agriculture sectors by , and , respectively. If possible, find equilibrium prices that make each sector's income match its expenditures.
Find the general solution as a vector, with free.
A)
B)
C)
D)
Correct Answer:
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