Total revenue is the amount of money your company earned from selling its goods or services during a particular accounting period. The business's weekly economic profit is $56721 .
Revenue is reduced by explicit and opportunity expenses to get at economic profit. Opportunity costs are the profits a company forgoes when deciding between options. Economic gain is utilized internally for analysis but is not necessary for open disclosure.
To achieve economic profit, revenue is decreased by explicit and opportunity costs. The profits a business forgoes when weighing its options are called opportunity costs. Although it is used internally for analysis, financial gain is not required for open disclosure.
The formula for calculating XYZ's total revenue is: = Number of sold chairs * Selling price per chair.
= 777 chairs at $73 each
= $56,721.
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