Map Sapling Learning macmillan learning When you answer these questions, please

Q: Map Sapling Learning macmillan learning When you answer these questions, please

1. Total revenue=Price per unit*number of units=85*737=62645 2. Opporunity cost=implicit cost+explicit cost=implicit cost per unit*number of units+explicit cost per unit*number of units=17*737+21*737=28006 3. Economic profit=revenues-explicit cost-implict cost=62645-(21*737)-(17*737)=34639

ID: 1221192 • Letter: M

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Map Sapling Learning macmillan learning When you answer these questions, please use whole numbers (for example, use 651 instead of 651.223 or 651.00) 1. This week, XYZ company made 737 chairs and sold them at a price of $85 per chair. Calculate XYZ's total revenue for this week. Number 2. If the explicit cost of producing each chair is $21 and the implicit cost is $17, then what is XYZ Company's total opportunity cost for producing 737 chairs? Number 3. Calculate XYZ company's economic profit for this week. Number A Previous Give Up & View Solution Check Answer Next E

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Total revenue=Price per unit*number of units=85*737=62645

Opporunity cost=implicit cost+explicit cost=implicit cost per unit*number of units+explicit cost per unit*number of units=17*737+21*737=28006

Economic profit=revenues-explicit cost-implict cost=62645-(21*737)-(17*737)=34639

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Map Sapling Learning macmillan learning When you answer these questions, please

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