Wassily Leontief (1906-1999) was a Russian-born, American economist who, aside from developing highly sophisticated economic theories, also enjoyed trout fishing, ballet and fine wines. He won the 1973 Nobel Prize in economics for his work in creating mathematical models to describe various economic phenomena. In the remainder of this lab we will look at a very simple special case of his work called a closed exchange model. Here is the premise: Suppose in a far-away land of Eigenbazistan, in a small country town called Matrixville, there lived a Farmer, a Tailor, a Carpenter, a Coal Miner and Slacker Bob. The Farmer produced food; the Tailor, clothes; the Carpenter, housing; the Coal Miner supplied energy; and Slacker Bob made High Quality 100 Proof Moonshine, half of which he drank himself. Let us make the following assumptions:

Everyone buys from and sells to the central pool (i.e. there is no outside supply and demand). Everything produced is consumed. For these reasons this is called a closed exchange model. Next we must specify what fraction of each of the goods is consumed by each person in our town. Here is a table containing this information:

Food Clothes Housing Energy High Quality 100 Proof Moonshine
Farmer 0.25 0.15 0.25 0.18 0.2
Tailor 0.15 0.28 0.18 0.17 0.05
Carpenter 0.22 0.19 0.22 0.22 0.1
Coal Miner 0.2 0.15 0.2 0.28 0.15
Slacker Bob 0.18 0.23 0.15 0.15 0.5

So for example, the Carpenter consumes 22% of all food, 19% of all clothes, 22% of all housing, 22% of all energy and 10% of all High Quality 100 Proof Moonshin. The columns in this table all add up to 1. Explain why this happens.

Answers

Answer 1

Answer:

The reason for the columns adding up to 1 is that each individual consumes a proportion or a fraction of the total quantity produced under each product category and every product is consumed. There is no leftover.

When the proportions of all the individuals are added up, the sum is always 1 under each product category because each individual can only consume a part of the whole.

Step-by-step explanation:

a) Data and Calculations:

Food Clothes Housing Energy High Quality 100

Proof Moonshine

Farmer 0.25 0.15 0.25 0.18 0.20

Tailor 0.15 0.28 0.18 0.17 0.05

Carpenter 0.22 0.19 0.22 0.22 0.10

Coal Miner 0.20 0.15 0.20 0.28 0.15

Slacker Bob 0.18 0.23 0.15 0.15 0.50

Total 1.00 1.00 1.00 1.00 1.00

Related Questions

Condense:

Ln 40 + 2 ln 1/2 + ln x

Answers

ln(40) + 2ln(1/2) + ln(x)

First, you should take the 2 and put it back in the argument. Since it's a coefficient, when you put it back it in would be a power. That changes 2ln(1/2) to ln(1/2 ^ 2), which is ln(1/4).

ln(40) + ln(1/4) + ln(x)

Then, to add these, we just multiply the arguments, meaning we just have:

ln(40 * 1/4 * x)

Multiply and then we're done.

ln(10x)

Using logarithmic function, the condense of Ln 40 + 2 ln 1/2 + ln x is ln(10x).

What is logarithmic function?

Logarithmic function is function is an " inverse of an exponential function so that the independent variable appears logarithmic function".

According to question,

Ln 40 + 2 ln 1/2 + ln x

Properties of Logarithmic function [tex]x ln (a) = ln(a^x)[/tex].

Using above properties we can write [tex]2 ln \frac{1}{2}[/tex] [tex]= ln(a^(\frac{1}{2})^2)[/tex] [tex]=ln(a^\frac{1}{4})[/tex].

Properties of Logarithmic function [tex]ln(a) + ln(b) = ln(ab)[/tex]

Using above properties we can write Ln 40 + 2 ln 1/2 + ln x as [tex]ln(40 . \frac{1}{4}.x)[/tex].

= [tex]ln(10x)[/tex]

Hence, Using logarithmic function, the condense of Ln 40 + 2 ln 1/2 + ln x is ln(10x).

Learn more about Logarithmic function here

https://brainly.com/question/20081937

#SPJ2

Tara needs an $8,000 personal loan.

Which loan option would require her to pay back the least amount of money?

36-month loan with a 9% annual simple interest rate

42-month loan with a 7% annual simple interest rate

48-month loan with an 8% annual simple interest rate.

54-month loan with a 6% annual simple interest rate plaese awnser correctly ned today

Answers

Step-by-step explanation:

54-month loan with a 6% annual simple interest rate plaese awnser correctly ned today step by step can you tell me

A trawler caught 2/3 ton of fish on Monday and 1/2 on Tuesday. What was the total amount of fish caught?

Answers

Answer:

1 1/6

Step-by-step explanation:

(1/2×3/3)+(2/3×2/2)=

3/6+4/6=

3+4/6=7/6 or 1 1/6

3+4 is the numerator over 6

Sarah Sandoval is a coffee farmer trying to decide how many tons of coffee to produce. She can sell each ton of coffee for $2,400. The cost of producing her first ton of coffee is $600, and the second ton costs $1,200. Each additional ton of coffee costs $600 more to produce. How many tons of coffee should Sarah produce, and what is the total cost of her coffee production

Answers

Answer:

Sarah should produce four tons of coffee and total cost for four ton is $6,000.

Step-by-step explanation:

According to the scenario, calculation of the given data are as follows,

Selling price per ton = $2,400

Cost of production is increasing by $600 for each ton.

So, Cost of production first ton = $600

Cost of production for second ton = $600 + $600 = $1,200

Similarly, Cost of production for third ton = $1,200 + $600 = 1,800

Cost of production of fourth ton = $1,800 + $600 = $2,400

Here, Sarah can produce coffee till selling price = cost of production.

As, cost of production of four ton = selling price, then Sarah can produce only four tons of coffee.

Total cost for four ton coffee = $600 + $1,200 + $1,800 + $2,400

= $6,000

Sarah can produce 4 tons of coffee and the total cost of the production is $6000 and this can be determined by using the arithmetic operations.

Given :

Sarah Sandoval is a coffee farmer trying to decide how many tons of coffee to produce.She can sell each ton of coffee for $2,400. The cost of producing her first ton of coffee is $600, and the second ton costs $1,200. Each additional ton of coffee costs $600 more to produce.

The following steps can be used in order to determine the total amount of coffee (in tons) should Sarah produce and the total cost of her coffee production:

Step 1 - Remember that Sarah can produce coffee unitil selling price is equal to the cost of production.

Step 2 - According to the given data, each additional ton of coffee costs $600 more to produce.

Step 3 - From the above steps, it can be concluded that Sarah can produce 4 tons of coffee because the cost of 4 tons of coffee is equal to the selling price.

[tex]600\times 4 = $2400[/tex]

Step 4 - So, the total cost of producing four tons of coffee is:

Total Cost = 600+ 1200 + 1800 + 2400

Total Cost = $6000

For more information, refer to the link given below:

https://brainly.com/question/1957976

I need help
are all intergers a closed or open whoel number when subtracting or adding them together

Answers

Answer:

Integers are always closed under subtraction, addition and multiplication, not division though. Hope this helped! :D

Step-by-step explanation:

108x25^2divided by
2^6 x 5^2

Answers

Answer:

108 x 25² divided by 2⁶ x 5² is equal to [tex]42\frac{3}{16}[/tex]

Step-by-step explanation:

Given;

108 x 25² divided by 2⁶ x 5²

The expression is simplified as follows;

[tex]\frac{108\times 25^2}{2^6 \times 5^2} = \frac{108\times 625}{64\times25} =\frac{675}{16} = 42\frac{3}{16}[/tex]

Therefore, 108 x 25² divided by 2⁶ x 5² is equal to [tex]42\frac{3}{16}[/tex]

Express in simplest radical form

Answers

Answer:

Step-by-step explanation:

Answer:

Step-by-step explanation:

2 x 2 =4

Find the perimeter of the following shape:

Answers

If you are trying to find the perimeter then just add all the sides so 10+10+7+7=34

But if it's for the area then its supposed to be A=hb/2 which is height times base divided by 2. For the area I did the math which is in the image

Pablo shares 525 cupcakes in the ratio of 3 : 4 between his bakery and a supermarket.

How many cupcakes does the supermarket get?

Answers

you do 525/7 to get 1 part
1part =75
75x4 to get supermarket
which then the answer is 300 cupcakes to for the supermarket

Find the vertex of the parabola defined by the following equation. 3x^2-12x+11

Answers

Answer:

y= 3(x-2)^2-1

Step-by-step explanation:

HELP MIDDLE SCHOOL QUESTION

Answers

1897 is how much he ran

Given points A(2,1,3) and B(0,5,0), find a point C in the xy-plane that creates an isosceles right triangle such that:_______

a. AB and BC are the legs of the right triangle
b. AB is the hypotenuse of the right triangle (for part ii, just doing all the set-up work is sufficient; you do not need to solve and find the points)

Answers

Answer:

a.)Point C will be either (4.82, 7.41) or ( -4.82, 2.59)

b.) -x² + 2x + 6y - y² - 5= 0 , 8y - 4x = 11

Step-by-step explanation:

As given A(2,1,3) and B(0,5,0)

a.)

We have to find C in the xy-plane

⇒ C is of the form (x, y, 0) ( Because in xy plane , z coordinate is zero)

Now, given AB and BC are the legs of the right triangle .

AB = (0, 5, 0) - (2, 1, 3) = ( -2, 4, -3)

BC = (x, y, 0) - (0, 5, 0) = ( x, y-5, 0)

As AB and BC are legs of triangle

⇒AB is perpendicular to BC

⇒(AB).(BC) = 0

⇒( -2, 4, -3).( x, y-5, 0) = 0

⇒ -2x + 4(y-5) -0 = 0

⇒ -2x + 4y- 20 = 0

⇒ -x + 2y- 10 = 0

⇒ 2y = 10 + x

⇒ y = 5 + [tex]\frac{x}{2}[/tex] ......(1)

As ABC is making an isosceles right triangle

It means two sides of the triangle are equal

Now,

|AB| = √(-2)² + (4)² + (-3)² = √4+16+9 = √29

|BC| = √(x)² + (y-5)² + 0² = √(x)² + (y-5)²

Now,

AS AB = BC

⇒|AB| = |BC|

⇒|AB|² = |BC|²

⇒29 = (x)² + (y-5)²

⇒29 = (x)² + (5 + [tex]\frac{x}{2}[/tex] -5)²

⇒29 = (x)² + ( [tex]\frac{x}{2}[/tex] )²

⇒29 = x²( 1 + [tex]\frac{1}{4}[/tex] ) = x²( [tex]\frac{5}{4}[/tex] )

⇒ x² = [tex]\frac{116}{5}[/tex] = 23.2

⇒ x = 4.82 , -4.82

⇒y = 7.41 , 2.59

so, Point C will be either (4.82, 7.41) or ( -4.82, 2.59)

b.)

As given AB is the hypotenuse of the right triangle

S, AC and CB will perpendicular to each other

Now,

AC = (x, y, 0) - ( 2, 1, 3) = ( x-2, y-1, -3)

CB = (0, 5, 0) - (x, y, 0) = (-x, 5-y, 0)

As, AC and CB is perpendicular

⇒(AC).(CB) = 0

⇒( x-2, y-1, -3).(-x, 5-y, 0) = 0

⇒(x-2)(-x) + (y-1)(5-y) - 0 = 0

⇒-x² + 2x + 5y - y² - 5 + y = 0

⇒-x² + 2x + 6y - y² - 5= 0 ..........(2)

As ABC is making an isosceles right triangle

It means two sides of the triangle are equal

Now,

|AC| = √(x-2)² + (y-1)² + (0-3)² = √(x-2)² + (y-1)² + 9

|BC| = √(x)² + (y-5)² + 0² = √(x)² + (y-5)²

Now,

AS AC = BC

⇒|AC| = |BC|

⇒|AC|² = |BC|²

⇒(x-2)² + (y-1)² + 9 = (x)² + (y-5)²

⇒x² + 4 - 4x + y² + 1 - 2y + 9 = x² + y² + 25 - 10y

⇒ 4 - 4x + 1 - 2y + 9 = 25 - 10y

⇒14 - 4x - 2y = 25 - 10y

⇒10y - 2y - 4x = 25 - 14

⇒8y - 4x = 11 ........(3)

Now, we have 2 equations

-x² + 2x + 6y - y² - 5= 0 , 8y - 4x = 11

Solve these equations to find x, y

Determine which choice best shows the distributive property of multiplication.

Question 1 options:

7 × 9 = 9 × 7

7 × (9 + 6) = (7 × 9) + (7 × 6)

7 × (9 × 6) = (7 × 9) × 6

1 × 7 = 7

Answers

Answer: Identify and use the commutative properties for addition and multiplication. Here, the same problem is worked by grouping 5 and 6 first, 5 + 6 = 11. The example below shows how the associative property can be used to simplify. The sum is 14. 7 + 2 + (8.5 + (−3.5)). 7 + 2 + 5. 9 + 5. 14. Group 8.5 and –3.5=5

Step-by-step explanation:

Answer:

7 × (9 + 6) = (7 × 9) + (7 × 6)

Step-by-step explanation:

PLEASE HELP ME 12 POINTS

Answers

Answer:

Streamers cost 2.50 and balloons cost 1.25.

Step-by-step explanation:

Pls mark brainliest.

Answer:

Balloon : $1.25

Streamer : $ 2.50

Step-by-step explanation:

Form simultaneous equations.

Let streamer be represented by ------------s

Let balloons be represented by ------------b

So the equations will be;

3s + 2b = 10 ----------------i

2s + 1b = 6.25---------------ii

Make the terms with s equal by multiplication

[3s + 2b = 10 ]2

[2s + 1b = 6.25]3

Perform subtraction

6s + 4b = 20

6s + 3b = 18.75

b = 1.25 ---------iii

Use iii in ii as;

2s + 1b = 6.25

2s + 1.25 = 6.25

2s = 6.25 - 1.25

2s = 5.00

Answer:

56 ft

Step-by-step explanation:

Answer: (x)^2 + (y)^2 = 90,000

Step-by-step explanation: we know that

The equation of the circle (the roof of the Colosseum) in standard form is equal to (x-h)^2 + (y-k)^2 =r^2

where

(h,k) is the center and r is the radius

we have

(h,k)=(0,0) ----> is the origin

----> the radius is half the diameter

substitute

Please help don’t understand

Answers

Since black skin is dominant to pink skin, there will be more occurrence of B than P

The punnet square for the breeding of the two pigs is then represented as:

[tex]\begin{array}{cc} {B} & {B} \ \\ {B} & {P} \ \ \end{array}[/tex]

Solving (a): Probability of Pink

In the above square, there is only 1 occurrence of P out of a possible of 4.

So, the probability is:

[tex]P(Pink) = \frac{n(P)}{4}[/tex]

[tex]P(Pink) = \frac{1}{4}[/tex]

Solving (b): Probability that first and second are black

In the above square, there is only 3 occurrence of B out of a possible of 4.

[tex]P(Black) = \frac{n(B)}{4}[/tex]

[tex]P(Black) = \frac{3}{4}[/tex]

So, the probability that both are black is:

[tex]P(Both\ Black) = P(Black) * P(Black)[/tex]

[tex]P(Both\ Black) = \frac{3}{4} * \frac{3}{4}[/tex]

[tex]P(Both\ Black) = \frac{9}{16}[/tex]

Solving (c): Probability of two pink and 1 black

This is calculated as:

[tex]Probability = P(Pink) * P(Pink) * P(Black)[/tex]

[tex]Probability = \frac{1}{4} * \frac{1}{4} * \frac{3}{4}[/tex]

[tex]Probability = \frac{3}{64}[/tex]

A) The probability that their offspring will have pink skin is; ¹/₄

B) The probability that the first and second off- spring will have black skin is;

9/16 or 56.25%

C) The probability that two will be pink and one will be black If the pigs produce a total of three piglets is; ³/₆₄ or 4.6875%

Mendel's law of dominance

To answer this question, we need to first understand Mendel's law of dominance. This law states that in a heterozygote, one trait will conceal the presence of another trait for the same characteristic. This means that the dominant trait always conceal the recessive trait.

Now in this question, we are told that;

black skin colour is dominant to Pink skin colour in pigs.

Let's denote the black color gene by ‘P’ and pink colour by ‘p’. Therefore, if cross is held between these two genes then according to mendel's law, the heterozygous pigs is specified as "Pp"

Now when the heterozygous pigs specified as "Pp" are crossed, we have;

Pp × Pp = PP, Pp, Pp, pp

where;

PP and Pp denotes black pigs is denoted pp denotes pink pigs

(a) From the 4 cross possibilities above;

Probability that their offspring will have pink skin = ¹/₄

(b) From the 4 cross possibilities gotten earlier;

Probability that their offspring will have black skin = ³/₄

Thus;

Probability that the first and second off- spring will have black skin is;

³/₄ × ³/₄ = 9/16 or 56.25%

(c) We are told that the pigs produced a total of three piglet. Thus, the probability that two will be pink and one black will be black is;

P(2 pink and 1 black) = ¹/₄ × ¹/₄ × ³/₄ = ³/₆₄ or 4.6875%

Read more about Mendel's law of dominance at; https://brainly.com/question/14436268

Mr. Santor cuts 1/2 of a piece of construction paper. He uses 1/6 of the piece to make a flower. What fraction of the sheet of paper does he use to make the flower?

Answers

Answer:

1/12

Step-by-step explanation:

1/2 multiplied by 1/6 equals 1/12

A particle traveled a distance of 9.0×1012 meters at a rate of 1.8×105 meters per second. If distance = rate x time, how many seconds did it take the particle to travel the specified distance?

Answers

Answer:it took the particle 50,000,000 seconds to travel the specified distance

Step-by-step explanation:

Given that distance = Rate x time

Distance traveled by Particle= 9.0×10^12 meters

and rate= 1.8×105 meters per second

Time taken for particle to travel the specified distance using our equation that

distance = Rate x time

time = Distance / Rate

=9.0×10^12 meters/ 1.8×105 meters per second

=50,000,000 seconds

Francis ran 2 1/5 miles in 7/12 of an hour. How many miles can Francis run in one hour?

Answers

Answer:

3 7/10 miles

Step-by-step explanation:

divide miles by hours

11/5 ÷ 7/12 = 11/5 · 12/7 = 132/35 or 3.7 mph

Studies suggest that people with a high sense of humor tolerate negative events better than people with low sense of humor. Let x represent the intensity of a negative life event. To find the depression level for people

Answers

Answer:

explain

Step-by-step explanation:

Given the equation y
- x+1
The x intercept is:
The y intercept is:

Answers

Answer:

−x+y+1

Step-by-step explanation:

Other Questions