Answer: 20 seats
Explanation:
The optimal number of business travellers will be the mean of Poisson distribution i.e 20, since the number of business travellers follows Poisson distribution. Which means that the probability that there will be 20 business travellers will be higher than all other numbers.
Therefore 20 seats must be assigned to business travellers to maximize the revenue.
Answer:
The correct answer is letter "E": deliver goods in conformity with the contract.
Explanation:
The perfect tender rule states that in a sales contract of goods, the seller must provide the buyer with the products that match perfectly the buyer's need. This rule is opposed to the <em>substantial performance</em> that states that at least part of the contract agreed must be fulfilled so that it can be considered legit.
The income effect, the substitution effect, and diminishing marginal utility together explain the Downsloping Demand Curve.
The Downsloping Demand Curve is explained by each of them. Because marginal utility decreases as more of a thing are consumed, a consumer's demand curve for that product slopes downward.
Income Effect: The change in demand for a good or service brought on by a shift in a consumer's purchasing power as a result of a change in real income is known as the income effect.
Substitution Effect: The substitution impact is the decline in sales of a product brought on by customers switching to less expensive substitutes when the price of the product increases.
Diminishing Marginal Utility: The phenomenon known as diminishing marginal utility describes how each extra unit of gain results in an ever-smaller rise in subjective value.
The income effect, the substitution effect, and diminishing marginal utility together explain the Downsloping Demand Curve.
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Answer:
The correct option is A,safety needs
Explanation:
The fact that Gabriel Farms pays a living wage that is higher than minimum wage shows that the employer is not only interested in ensuring employees satisfy their psychological needs by having access to basic necessities alone.
In other words, by paying them something extra they are placed in the safety needs hierarchy where they are also able to look after personal security,comfort,good health as well as acquisition of property.As result,there is no doubt that the living wage satisfies the safety needs' hierarchy in Abraham Maslow's hierarchy of needs
Answer:
b)less than $500,000 today, but a positive amount.
Explanation:
By the virtue of the concepts of compounding and discounting, we understand that $1 today is worth more that $1 in the future.
Where Pv = Present value
Fv = Future value
r = discount rate
t = time
Fv = Pv ( 1 + r)^t
As such If a firm can earn a profit stream of $50,000 per year for 10 years, that profit stream is worth less than $500,000 today, but a positive amount.
