NEED THE COMPLETE AND CLEAR SOLUTION thanks. Show transcribed image text 2. A simple economy produce 1 answer below »
NEED THE COMPLETE AND CLEAR SOLUTION thanks.
Show transcribed image text 2. A simple economy produces food (F) and housing (H). The production of $1.00 worth of food requires $0.30 worth of food and $0.10 worth of housing, and the production of $1.00 worth of housing requires $0.20 m worth of food and $0.60 worth of housing. (a) Construct a consumption matrix for this economy. (b) What dollar value of food and housing must be produced for the economy to provide consumers 5130,000 worth of food and $130,000 worth of housing?