I think the answer is true, but if I’m wrong sorry
Answer:
United States United Kingdom, Singapore, Canada
Explanation:
The free market system is an economic model where demand and supply forces determine production. The government does not interfere with economic transactions in the country. In the free market economy, the factors of production are in the hands of the private sector.
Free-market economies contrast with command economies where the government owns and controls production the factors of production. China, Russia, North Korea, and Cuba are countries with command economic model.
So we first need to find the profit per unit, which means we need to find the number of units sold
profit = (sales price* quantity) - variable cost*quantity - fixed costs
plug in what we know
300,000 = (20q) - 12q-25,000
275,000 = 8q
q= 34,375 units produced. Then take profit/units = 300,000/34375 = 8.73 profit per unit
Now if we sell 5,000 more units, we would have 8.73*5000 = 43,636.36 additional profit
The term when hotels turn guests away because their rooms are overbooked is called “walking” or “walked”.
Overbooking is <u>a situation where a business sells a good or service when the supply for this transaction is actually not available</u>.
Overbooking can happen when current guests increase their stay without further notice or when a room is not proper for a guest to stay in. It can also happen when hotels purposefully gave a room during busy seasons to more than one guest – thinking that perhaps one of them might cancel.