Suppose 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 to U.S. travelers to Switzerland for a 3 percent commission. Go to the Federal Reserve Web site at www.federalreserve.govand select the Data button and then the Foreign Exchange Rates. What was the actual price of a Swiss franc? What was your total revenue in U.S. dollars yesterday (be sure to include your commission). Why would your profit for the day be considerably less than the total revenue?