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Company XYZ sells widgets in a competitive market. Last week, XYZ sold 300 widgets. Company XYZ's marginal revenue is $50. Last week, XYZ incurred a
Company XYZ sells widgets in a competitive market. Last week, XYZ sold 300 widgets. Company XYZ's marginal revenue is $50. Last week, XYZ incurred a fixed cost of $500 total. Moreover, XYZ incurred an average total cost of $35 for the 300 units that it sold. What was XYZ's profit for last week? $3500 $4500 $4000 O $3000
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