Discover the answers you need at Westonci.ca, a dynamic Q&A platform where knowledge is shared freely by a community of experts. Explore in-depth answers to your questions from a knowledgeable community of experts across different fields. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform.
Sagot :
Using Cramer's rule, the firm's profit is $79,000.
What is Cramer's Rule?
Cramer’s Rule as a method of systems of equations uses determinants with the same number of equations as variables. Determinants are the quantities that we obtain when we mathematically manipulate the elements of a square matrix.
Data and Calculations:
Matrix A:
A B C
Output units 15,000 27,000 13,000
Price of output 10 12 5
Sales revenue 150,000 324,000 65,000 (13,000 x 5)
Total Sales Revenue = 539,000 (150,000 + 324,000 + 65,000)
Matrix B:
A B
Input units 11,000 30,000
Cost per unit 20 8
Total cost 220,000 240,000 (30,000 x 8)
The Total Production Costs = 460,000 (220,000 + 240,000)
The profit can be calculated as the difference between the revenue and cost determinants to be equal to 79,000 (539,000 - 460,000).
Thus, using Cramer's Rule, the firm's profit is $79,000.
Learn more about Cramer's Rule here: https://brainly.com/question/15327191
We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. We're glad you chose Westonci.ca. Revisit us for updated answers from our knowledgeable team.