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Using the data below and the information contained in the News Wire, compute total revenue, average total cost, and profit for a T- shirt shop. Rent $100.00 per day Labor cost $1.00 per T-shirt Output (sales) = 20 T-shirts per day Instructions: Round your responses to two decimal places. a. Total revenue per day $ b. Average total cost $ c. Per-unit profit $ d. Total profit per day $

Using the data below and the information contained in the News Wire, compute total revenue, average total cost, and profit for a T- shirt shop. Rent $100.00 per day Labor cost $1.00 per T-shirt Output (sales) = 20 T-shirts per day Instructions: Round your responses to two decimal places. a. Total revenue per day $ b. Average total cost $ c. Per-unit profit $ d. Total profit per day $

Economics (MindTap Course List)
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter21: Production And Costs
Section21.4: Costs Of Production: Total, Average, Marginal
Problem 2ST
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Using the data below and the information contained in the News Wire, compute total revenue, average total cost, and profit for a T- shirt shop. Rent $100.00 per day Labor cost $1.00 per T-shirt Output (sales) = 20 T-shirts per day Instructions: Round your responses to two decimal places. a. Total revenue per day $ b. Average total cost $ c. Per-unit profit $ d. Total profit per day $
Transcribed Image Text:Using the data below and the information contained in the News Wire, compute total revenue, average total cost, and profit for a T- shirt shop. Rent $100.00 per day Labor cost $1.00 per T-shirt Output (sales) = 20 T-shirts per day Instructions: Round your responses to two decimal places. a. Total revenue per day $ b. Average total cost $ c. Per-unit profit $ d. Total profit per day $
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