Use th following information to answer the two questions that follow. For each question, please type the letter (e.g., "a", "b", "c", ...) of your selected answer. A travel agency is planning flights for a study abroad trip to Uruguay. The maximum number of students that may attend is 100 (based upon available seating). At a price of $300 per student, 100 students will attend. For every $10 they increase the price, though, two seats will become vacant. The travel agency's cost is $20 per occupied seat. Part 1. How many students will attend if revenue is maximized? . 10 ь. 20 c. 60 d. 80 e. 90 Part 2. At what price will profit be maximized? a. $390 b. $400 c. $410 d. $420 c. $425

Use th following information to answer the two questions that follow. For each question, please type the letter (e.g., "a", "b", "c", ...) of your selected answer. A travel agency is planning flights for a study abroad trip to Uruguay. The maximum number of students that may attend is 100 (based upon available seating). At a price of $300 per student, 100 students will attend. For every $10 they increase the price, though, two seats will become vacant. The travel agency's cost is $20 per occupied seat. Part 1. How many students will attend if revenue is maximized? . 10 ь. 20 c. 60 d. 80 e. 90 Part 2. At what price will profit be maximized? a. $390 b. $400 c. $410 d. $420 c. $425

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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