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Question: page 10 of 10 assume an open economy with two...

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Page 10 of 10 Assume an open economy with two sectors, Food and Water. The production of $1,00 worth of Food needs S0.10 worth of Food and $0.30 worth of Water, and the production of $1,00 worth of Water needs $0.40 worth of Food and S0.20 worth of Water. a. Determine the consumption and Leontief matrices. (3 points) b. If the open sector has a demand of $12 worth of Food and $8 worth of Water, find the production vector that will meet this demand exactly. (7 points)

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