A primitive economy consists of a fishing industry and an oil industry. A unit of...
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A primitive economy consists of a fishing industry and an oil industry. A unit of tishing industry output requires 0.30 unit of fishing industry input and 0.35 unit of oil industry input. A unit of oil industry output requires inputs of 0.04 unit of fishing products and 0.10 unit of oil products. (a) Write the technology matrix for this primitive economy. Fishing Oil Fishing Oil (b) If surpluses of 40 units of fishing products and 2180 units of oil products are desired, find the gross production of each industry. fishing units oil units
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