Question

Consider a simple economy consisting of three sectors: food, clothing, and shelter. The production of 1...

Consider a simple economy consisting of three sectors: food, clothing, and shelter. The production of 1 unit of food requires the consumption of 0.4 unit of food, 0.2 unit of clothing, and 0.2 unit of shelter. The production of 1 unit of clothing requires the consumption of 0.1 unit of food, 0.2 unit of clothing, and 0.3 unit of shelter. The production of 1 unit of shelter requires the consumption of 0.3 unit of food, 0.1 unit of clothing, and 0.1 unit of shelter. Find the level of production for each sector in order to satisfy the demand for $120 million worth of food, $40 million worth of clothing, and $220 million worth of shelter. (Round your answers to one decimal place.)

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