A certain simple economy has two sectors: work and play. To produce $1 of work requires $0.7 of work and $0.2 of play. To produce $1 of play requires $0.1 of work and $0.6 of play. There is also an external demand for $2600 of work and $2300 of play. To meet the external demand, the economy must produce $ of work and $ of play of work and $ of play. When the external demand is met, the internal consumption is $

A certain simple economy has two sectors: work and play. To produce $1 of work requires $0.7 of work and $0.2 of play. To produce $1 of play requires $0.1 of work and $0.6 of play. There is also an external demand for $2600 of work and $2300 of play. To meet the external demand, the economy must produce $ of work and $ of play of work and $ of play. When the external demand is met, the internal consumption is $

Microeconomics A Contemporary Intro

10th Edition

ISBN:9781285635101

Author:MCEACHERN

Publisher:MCEACHERN

Chapter3: Economic Decision Makers

Section: Chapter Questions

Problem 15PAE

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