Leontief model to determine equilibrium fees











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Use the Leontief exchange model to determine equilibrium fees.



begin{bmatrix} 0.2 &0.6 &0.1 \ 0.4 &0.1 &0.5 \ 0.4 &0.3 &0.4 end{bmatrix}



My answer I get is p1 = 0.8125, p2 = 0.9167, p3 =1. Is that correct? I used the (I-E)p=0 rule and then reduced the matrix to row echelon form.






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    Use the Leontief exchange model to determine equilibrium fees.



    begin{bmatrix} 0.2 &0.6 &0.1 \ 0.4 &0.1 &0.5 \ 0.4 &0.3 &0.4 end{bmatrix}



    My answer I get is p1 = 0.8125, p2 = 0.9167, p3 =1. Is that correct? I used the (I-E)p=0 rule and then reduced the matrix to row echelon form.






    linear-algebra







    share|cite|improve this question







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    Check out our Code of Conduct.






















      up vote
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      down vote

      favorite









      up vote
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      down vote

      favorite











      Use the Leontief exchange model to determine equilibrium fees.



      begin{bmatrix} 0.2 &0.6 &0.1 \ 0.4 &0.1 &0.5 \ 0.4 &0.3 &0.4 end{bmatrix}



      My answer I get is p1 = 0.8125, p2 = 0.9167, p3 =1. Is that correct? I used the (I-E)p=0 rule and then reduced the matrix to row echelon form.






      linear-algebra







      share|cite|improve this question







      New contributor




      34kattin is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
      Check out our Code of Conduct.











      Use the Leontief exchange model to determine equilibrium fees.



      begin{bmatrix} 0.2 &0.6 &0.1 \ 0.4 &0.1 &0.5 \ 0.4 &0.3 &0.4 end{bmatrix}



      My answer I get is p1 = 0.8125, p2 = 0.9167, p3 =1. Is that correct? I used the (I-E)p=0 rule and then reduced the matrix to row echelon form.






      linear-algebra




      linear-algebra






      share|cite|improve this question







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      34kattin is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
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