A system composed of two industries, coal and steel, has the following input requirements. (a) To produce $1.00 worth of output, the coal industry requires $0.30 of its own product and $0.60 of steel.

A system composed of two industries, coal and steel, has the following input requirements. (a) To produce $1.00 worth of output, the coal industry requires $0.30 of its own product and $0.60 of steel. (b) To produce $1.00 worth of output, the steel industry requires $0.30 of its own product and $0.40 of coal. STEP 1: Find D, the input-output matrix for this system. Coal Steel x 3: Coal X 3: Steel STEP 2: 10 000 Solve for the output matrix X in the equation X = DX + E, where E is the external demand matrix E = [ r ]. 20,000 3: Coal X: 3: Steel

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