Illustrate what was your total revenue in dollars yesterday

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Reference no: EM1350109

Suppose that you operate a purely competitive firm that buys and sells foreign currencies. Also suppose that yesterday your business activity consisted of buying 100,000 Swiss francs at the market exchange rate and selling them for a 3 percent commission. What was your total revenue in dollars yesterday (be sure to include your commission)? Why would your profit for the day be considerably less than this total revenue?

Reference no: EM1350109

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