Question

Q6. An economy produces two commodities say x and y. the two commodities serve as intermediate inputs in each other's production 0.4 unit of x and 0.7 unit of y are needed to produce of unit of Similarly 0.1 unit of x and 0.6 unit of y are required to produce a unit of y. Do you think the system is viable? 2 and 5 labour days are required to produce a unit of y and unit of x respectively. If the economy needs 100 units of y and 50 units of x, calculate the gross output of the two commodities and total labour required. Determine equilibrium price if wage rate is Rs. 10 per day.​

Answer 1

Answer:

Step-by-step explanation:

1)50

2)40

3)10

4)20