Consider the leontief economic equilibrium model described by ax=b, which can be rearranged to (i-a)x = b. in this model a is a matrix of internal demands (demands for the output of one sector of the economy required for the production of the output of another) while b is a vector of external demands (e. g. the consumer demand for each sector of the economy)a) what is the meaning, in economic terms, of the column space of (i-a)? b) what is the meaning, in economic terms, of the null space of (i-a)?

John's pizzeria and equilibrium john is selling his pizza for $6 per slice in an area of high demand. however, customers are not buying his pizza. using what you learned about the principles of equilibrium, write three to four sentences about how john could solve his problem.

Xinhong company is considering replacing one of its manufacturing machines. the machine has a book value of $39,000 and a remaining useful life of 5 years, at which time its salvage value will be zero. it has a current market value of $49,000. variable manufacturing costs are $33,300 per year for this machine. information on two alternative replacement machines follows. alternative a alternative b cost $ 115,000 $ 117,000 variable manufacturing costs per year 22,900 10,100 1. calculate the total change in net income if alternative a and b is adopted. 2. should xinhong keep or replace its manufacturing machine

How an absolute advantage might affect a country's imports and exports?