A Simple Economy Consists of Two Industries: Agriculture and Manufacturing

Multiple Choice

A simple economy consists of two industries: agriculture and manufacturing. The production of 1 unit of agricultural products requires the consumption of 0.2 unit of agricultural products and 0.1 unit of manufactured goods. The production of 1 unit of manufactured products requires the consumption of 0.3 unit of agricultural products and 0.3 unit of manufactured goods. ​
Find the gross output of goods if the consumer demand for the output of agricultural goods and the consumer demand for manufactured products are $120 million and $130 million, respectively. Round answers to two decimal places.
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A) $186.76 million and $218.87 million worth of agricultural goods and manufactured products respectively
B) $232.08 million and $218.87 million worth of agricultural goods and manufactured products respectively
C) $186.76 million and $262.56 million worth of agricultural goods and manufactured products respectively
D) $232.08 million and $262.56 million worth of agricultural goods and manufactured products respectively