14/70 in it's simplest form is 1/5
hope this helps :)
Answer:
$90,200
Step-by-step explanation:
Airlines usually try to sell their all seats before they fly the airplane. They do wish to sell maximum available seats in order to maximize their revenue. If the airplane takes off with less occupancy then there is opportunity cost for the airline companies. There are 200 seats available to the current flight and they wishes to sell it completely. If they sell all the 200 seats at the price of $451 per seat then their total revenue will be $90,200.
Answer:
When customers wait longer for tables, they are more likely to pay higher prices.
Step-by-step explanation:
Supply/Demand relationships predict that changing one side will influence the other. If demand exceeds capacity, suppliers can raise prices without risk of losing products sold. In fact, total income will rise. The restaurant may raise it's price to the point that supply meets demand. In this case, the goal of the higher priced meals is to reduce wait times, not meals sold. If the meals sold are all at a higher price/meal, then income rises and wait times are reduced. What's not to like, if you own the restaurant?
