Example: air traffic controller
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7.2 Application to economics: Leontief Model
www.math.ksu.eduOne has 8 p1 = a11p1 +a21 p2 + +aen1 pn p2 = ea12 p1 +ea22 p2 + + an2 p2 pn = ea1n p1 +ean2 pn + +aenn pn since eaij pi is the amount paid by industry Sj for products produced by industry Si. The total income of industry Sj equals the total price Sj has to pay to all other industries. Again, one can write this as a matrix equation: PA = P: This equation can be transformed in the …