Solved: Let U be the 3 × 2 cost matrix described in

Chapter 2, Problem 14E

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Problem 14E

Let U be the 3 × 2 cost matrix described in Example 6 in Section 1.8. The first column of U lists the costs per dollar of output for manufacturing product B, and the second column lists the costs per dollar of output for product C. (The costs are categorized as materials, labor, and overhead.) Let q1 be a vector in ℝ2 that lists the output (measured in dollars) of products B and C manufactured during the first quarter of the year, and let q2, q3 and q4 be the analogous vectors that list the amounts of products B and C manufactured in the second, third, and fourth quarters, respectively. Give an economic description of the data in the matrix UQ, where Q = [q1 q2  q3  q4]

Example 6: A company manufactures two products, B and C. Using data from Example 7 in Section 1.3, we construct a “unit cost” matrix, U = [b c] , whose columns describe the “costs per dollar of output” for the products: