The input-output technology matrix for three industries is: If the final demand matrix 0.2&0.3&0.1\\ 0&0.5&0.2\\ 0&0&0.5 matrix ].for three industries is, find the gross output.​

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Answer:

the 1930's, Wassily Leontief used matrices to model economic systems. His models, often referred to as the input-output models, divide the economy into sectors where each sector produces goods and services not only for itself but also for other sectors.

Step-by-step explanation:

the 1930's, Wassily Leontief used matrices to model economic systems. His models, often referred to as the input-output models, divide the economy into sectors where each sector produces goods and services not only for itself but also for other sectors.

Answer:

Step-by-step explanation:

Definition of matrix:

A collection of numbers lined up in rows and columns to form a rectangular array is called a matrix. The elements, or entries, of the matrix are the integers. In addition to numerous mathematical disciplines, matrices find extensive use in the fields of engineering, physics, economics, and statistics. Matrices also have crucial uses in computer graphics, where they have been used to represent rotations and other transformations of images.

In the past, it was not the matrix that was originally seen, but rather a specific number connected to a square array of numbers known as the determinant. The notion of the matrix as an algebraic object emerged only gradually. James Sylvester, an English mathematician from the 19th century, coined the term "matrix," but it was actually his buddy Arthur Cayley who first used it.

Question:

The input-output technology matrix for three industries is: If the final demand matrix 0.2&0.3&0.1\\ 0&0.5&0.2\\ 0&0&0.5 matrix ].

for three industries is

, find the gross output.​

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