The answer is 92 million 24/25
Answer:
0.2952
Step-by-step explanation:
Not enough seats will be available if 23 or 24 people show up.
Required probability = 24C24(0.9005)24 + 24C23(0.9005)23*0.0995 = 0.2952
The answer for your question is:
<em>C: Rectangle</em>
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
