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Consider an economy with three sectors, Chemicals & Met- als, Fuels & Power, and Machinery....

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Accounting

Consider an economy with three sectors, Chemicals & Met- als, Fuels & Power, and Machinery. Chemicals sells 30% of its output to Fuels and 50% to Machinery and retains the rest. Fuels sells 80% of its output to Chemicals and 10% to Machinery and retains the rest. Machinery sells 40% to Chemicals and 40% to Fuels and retains the rest. a. Develop a system of equations (in standard form) to find the equilibrium prices. b. Find a redundant equation, cross it out and set up the augmented matrix. STOP. DONOT SOLVE

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