Solve Each Problem $$\left[ \begin{array} { r r r } 31 & 100 & 30 \\18 & 18 & 90 \\60 & 120 & 40\end{array} \right]$$

question 180

Multiple Choice

Solve each problem.
-Mikeʹs Bait Shop sells three types of lures: discount, normal, and professional. Location I sells 31 discount lures, 100 regular lures, and 30 professional lures each day. Location II sells 18 discount
Lures and Location III sells 60 discount lures each day. Daily sales of regular lures are 90 at
Location II and 120 at Location III. At Location II, 18 expert lures are sold each day, and 40 expert
Lures are sold each day at Location III. Write a 3 × 3 matrix that shows the sales figures for the three
Locations, with the rows representing the three locations.

• A)
• \[\left[ \begin{array} { r r r }
• 31 & 100 & 30 \\
• 18 & 18 & 90 \\
• 60 & 120 & 40
• \end{array} \right]\]
• B)
• \[\left[ \begin{array} { r r r }
• 100 & 31 & 30 \\
• 18 & 90 & 18 \\
• 60 & 120 & 40
• \end{array} \right]\]
• C)
• \(\left[\begin{array}{rrr}
• 31 & 100 & 18 \\
• 18 & 90 & 30 \\
• 60 & 120 & 40
• \end{array}\right]\)
• D)
• \[\left[ \begin{array} { r r r }
• 31 & 100 & 30 \\
• 18 & 90 & 18 \\
• 60 & 120 & 40
• \end{array} \right]\]

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Definitions:

Homogeneous Oligopoly

A market structure featuring a small number of firms offering products or services that are largely identical or undifferentiated.

Virtually Identical

Items or situations that are almost the same or very closely resemble each other in most aspects.

Price

The amount of money required to purchase a good or service, often determined by the interplay of supply and demand.

Output

The quantity of goods or services produced by a business, industry, or economy within a certain period.