The large energy company makes electricity, natural gas, and oil. Production of the dollar's worth of electricity needs inputs of$0.30 from electricity, $0.10 from natural gas, and $0.20 from oil. Production of the dollar's worth of natural gas needs inputs of $0.30 from electricity, $0.15 from natural gas, and $0.18 from oil. Production of the dollar's worth of oil needs inputs of $0.10 from each sector.
a. Write technology matrix which explains paragraph above. Ensure you label rows and columns input and output.
b. Using technology matrix, what kind of energy is least dependent on itself?
c. For each $1,000 of natural gas produced, how much oil was needed?
d. Determine output for each sector which is required to satisfy final demand of $25 million for electricity, $15 million for natural gas, and $20 million for oil.