1. Given the following matrices: 1 0 7 0 0 4 2 0 A 3 2 2 , B 2 3 2 and C 3 1 1 0 1 0 0 1 1 5 Determine i. 2 ii. iii. 0.5 2. The system composed of 3 industries, industries, Transportation, Coal mining and electricity has the following input-output matrix and external demand given by 0.15 0.30 0.15 450 0.50 0.0 0.40 955 0.20 0.10 0.20 670
Find the output for each industry.
3. An economic system is composed of 3 industries , , . Given
Given that industry’s industry ′ production is 1230, find find the production of the other industries if 0.3 0.45 0.2 0.25 0.4 0.5 0.45 0.15 0.3 4. A population of 100000 consumers make the following purchases in a week: 20000 purchased brand A, 35000 purchased brand B, and 45000 purchased brand C. From a market study, it is estimated that of those who purchased brand A, 80% will purchase it again next week, 15% will purchase brand B and 5% will purchase neither brand. Of those who purchased brand B, 85% will purchase it again next week, 12% will purchase brand A and 3% will purchase neither brand and of those who purchased neither brand, 20% will purchase brand A, 15% will purchase brand B and 65% will purchase neither brand. i. Form the transition and state matrices ii. Determine how many customers will be in each brand after two weeks. iii. If these patterns continue, will the market be stable? Justify iv. What will the stable matrix be in the long run?
Paradox Wiebe E. Bijker, Roland Bal, Ruud Hendriks - The Paradox of Scientific Authority - The Role of Scientific Advice in Democracies (Inside Technology) - The MIT Press (2009)