Your T-Shirt Operation Is Doing a Booming Trade

question 92

Multiple Choice

Your T-shirt operation is doing a booming trade. Last week you sold 60 tie-dyed shirts for $17 each, 75 Suburban State University crew shirts for $8 each, and 30 lacrosse T-shirts for $11 each. Use matrix operations to calculate your total revenue for the week. ​

• A)$1,940
• B) $1,945
• C) $1,965
• D) $1,920
• E) $1,950

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Definitions:

Absolute Purchasing Power Parity

It's a theory that suggests the exchange rates between currencies are in equilibrium when their purchasing power is the same in each of the two countries.

Economic Values

The measure of the benefit provided by a good or service to an economic agent.

Foreign Currency Approach

A method that involves evaluating financial statements and investments in the context of foreign currency exchange rates and their fluctuations.

NPV

Net Present Value, a financial metric used to evaluate the profitability of an investment by calculating the present value of expected future cash flows.