This week, XYZ company made 425 chairs and sold them at a price of $69 per chair. Calculate XYZ's total revenue for this week. Submit your answers as whole numbers. total revenue: $ If the explicit cost of producing each chair is $27 and the implicit cost is $19, then what is XYZ company's total opportunity cost for producing 425 chairs? total opportunity cost: $ Calculate XYZ company's economic profit for this week. economic profit: $
This week, XYZ company made 425 chairs and sold them at a price of $69 per chair. Calculate XYZ's total revenue for this week. Submit your answers as whole numbers. total revenue: $ If the explicit cost of producing each chair is $27 and the implicit cost is $19, then what is XYZ company's total opportunity cost for producing 425 chairs? total opportunity cost: $ Calculate XYZ company's economic profit for this week. economic profit: $
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![This week, XYZ company made 425 chairs and sold them at a price of $69 per chair. Calculate XYZ's total revenue for
this week. Submit your answers as whole numbers.
total revenue: $
If the explicit cost of producing each chair is $27 and the implicit cost is $19, then what is XYZ company's total opportunity
cost for producing 425 chairs?
total opportunity cost: $
Calculate XYZ company's economic profit for this week.
economic profit: $](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc421684f-ca43-44ee-8152-56b76e1ae0e1%2F0737d553-dbfa-440a-9db4-28d0113fe84c%2F6364oid_processed.jpeg&w=3840&q=75)
Transcribed Image Text:This week, XYZ company made 425 chairs and sold them at a price of $69 per chair. Calculate XYZ's total revenue for
this week. Submit your answers as whole numbers.
total revenue: $
If the explicit cost of producing each chair is $27 and the implicit cost is $19, then what is XYZ company's total opportunity
cost for producing 425 chairs?
total opportunity cost: $
Calculate XYZ company's economic profit for this week.
economic profit: $
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