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AlgebraQ&A LibraryA manufacturer produces three products x, y, z which he sells in two markets.Annual sales are indicated below:Market ProductsI. 10,000 2,000 18,000II. 6,000 20,000 8,000(a) If unit sale prices of x, y and z are $2.50, $1.50 and $ 1.00, respectively,find the total revenue in each market with the help of matrix algebra.(b) If the unit costs of the above three commodities are $2.00, $ 1.00 and50 cents respectively. Find the gross profit.Question

Asked Jan 26, 2020

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A manufacturer produces three products x, y, z which he sells in two markets.

Annual sales are indicated below:

Market Products

I. 10,000 2,000 18,000

II. 6,000 20,000 8,000

(a) If unit sale prices of x, y and z are $2.50, $1.50 and $ 1.00, respectively,

find the total revenue in each market with the help of matrix algebra.

(b) If the unit costs of the above three commodities are $2.00, $ 1.00 and

50 cents respectively. Find the gross profit.

Step 1

The matrix for the product ** x, y, z **per market be denoted by matrix A:

Step 2

Part (A)

Let the unit sale price of products x, y and z premarket be denoted by matrix B.

Step 3

Total revenue = Total sales...

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