Answer:
<h2>Revenue will decrease</h2>
Step-by-step explanation:
Note: the question did not provide the quantity to work with, so we will assume some values, say quantity Q= 30
Generally, it is normal for the revenue to decrease when the price of a commodity increase, this is so that buyer will have to react to adjust to the change in price.
When price increase from $50 to $60, the total revenue will decrease
let say the quantity Q1=30 , and the new quantity after price increase is Q2=20
1. The revenue PxQ before price change will be
PxQ= P1xQ1=50*30
PxQ= $1500
1. The revenue PxQ after price change will be
PxQ=P2xQ2= 60*20
P2xQ2= $1200
This clearly shows that based on the assumed data, the total revenue will drop from1500 to 1200, a total of $300 in a decrease
1.2 is less than 1.5
If you cancel out 1 from both numbers you're left with .2 and .5
Multiply both by 10 and get 2 and 5.
Obviously 2 is less than 5.
Answer:
The value after three years is $137,027.97
Step-by-step explanation:
Here, we want to get the value of the home after 3 years
Generally, we have the exponential formula as follows;
y = P(1 + r)^t
where P is the original cost which is $124,400
r is the rate of increase which is 3% = 3/100 = 0.03
t is the time which is 3 years
Substituting these values;
y = 125400(1 + 0.03)^3 = $137,027.97
60 because .7 times 60 equals 42 therefore the answer is 60
Answer: The correct option is the third one; y=10(0.13)^x
