Q2. Leontief Input-Output Model
A country produces only two goods X and Y. The two commodities serve as intermediate in put in each other's production. 0.1 unit of X and 0.55 unit of Y are needed to produce a unit of X. Whereas 0.4 unit of X and 0.2 unit of Y are needed to produce a unit of y for final consumption 240 units of X and 140 units of Y are needed.
Based on the above information, answer the following questions:

Solution