Business, 10.11.2019 03:31 saraaaaaaaa20

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)?

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Consider the leontief economic equilibrium model described by ax=b, which can be rearranged to (i-a)...

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