If the Number of Persons Who Attend the Club Meeting

question 4

Multiple Choice

If the number of persons who attend the club meeting this week is X, then the number of people who will attend next week is 48 + 0.40X.What is a long-run equilibrium attendance for this club?

• A)96
• B)80
• C)120
• D)48
• E)32

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Definitions:

Increased Revenues

A rise in the amount of money a company earns from its business activities over a certain period.

Fixed Costs

Costs that do not change with the level of production or sales activities, such as rent, salaries, and insurance premiums.

Relevant

Pertinent or closely connected to the matter at hand, often used in the context of information or data.

Operating at Capacity

The state of a business or a machine functioning at its maximum output or efficiency.