A Shop Is Open from 9am-7pm

question 58

Short Answer

A shop is open from 9am-7pm.The function r(t), graphed below, gives the rate at which customers arrive (in people/hour)at time t.Suppose that the salespeople can serve customers at a rate of 60 people per hour.When do people have to start waiting in line before being served? Answer to the nearest half-hour.You do not need to include "am" or "pm".

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Definitions:

Price Elasticity

The influence exerted by price variations on the demand level of a specific good quantified.

Price-Discriminate

The practice of charging different prices to different consumers for the same good or service, based on factors like location, buying habits, or willingness to pay.

Higher Prices

Typically the result of increased demand or reduced supply, leading to a rise in the cost of goods and services.

Deadweight Loss

An economic inefficiency that occurs when the equilibrium for a good or service is not achieved or is not allocatively efficient.