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Write a matrix to display the information.
-A bakery sells three types of cakes. Cake I requires 2 cups of flour, 2 cups of sugar, and 2 eggs. Cake II requires 4 cups of flour, 1 cup of sugar, and 1 egg. Cake III requires 2 cups of flour, 2 cups of Sugar, and 3 eggs. Make a 3 × 3 matrix showing the required ingredients for each cake. Assign the
Cakes to the rows and the ingredients to the columns.
Average Variable Cost
The total variable cost divided by the quantity of output produced; it shows the variable cost per unit of output.
Marginal Product
The extra output generated from the inclusion of one additional unit of a particular input while maintaining all other inputs unchanged.
Variable Cost
Costs that change in proportion to the level of production output or activity level of an entity.
Average Variable Costs
Average variable costs represent the per-unit variable costs of production, calculated by dividing total variable costs by the quantity of output.
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