An economy consists of service and food sectors. Assume that to produce $1 worth of service consumes 50 cents worth of service and 20 cents worth of food,and to produce $1 worth of food consumes 40 cents worth of serives and 20 cents worth of food. Assume that there is an external demand for $2 million worth of serices and $12 million worth of food.
a)Determine the comsumption matrix C for this economy.
b)In order to satisfy the demand, how much of each must be produce?(Find the production vector that will satisfy the demand.)
c)For this production vector, what is the value of serices that is consumed internally by the food industry ?