With current technology, suppose a firm is producing 400 loaves of banana bread daily. Also assume that the least-cost combination of resources in producing those loaves is 10 units of labor, 7 units of land, 4 units of capital, and 3 units of entrepreneurial ability, selling at prices of $20, $60, $40, and $20, respectively. Assume the firm can sell these 400 loaves at $2 per unit.
a. What is the firm's total revenue?
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