Definition: You are given a conversation between two people. 'Person1:' and 'Person2:' are used to separate their respective dialogues. You are required to assign a label 'formal' if there is an absence of emotion and a presence of questions anywhere within the conversation. If such pattern is not found assign the label 'informal'.
Input:  Person1:       I Don't know how they do it ! Our competitors have undercut us by 10 % percent on the price of our latest model . There is no way will be able to compete against that . We're barely breaking even with the present prices .  
 Person2:These price wars are disastrous for our bottom line . If they're charging 10 % less than we are , we've got to find a way to lower our price while keeping our profit .  
 Person1:        Profits are almost nonexistent now , we can't beat their price . How do they keep their price so low ?  
 Person2:We can try to lower our cost of production then . We need a price that we can compete with , something comparable with the competition .  
 Person1:        You really think we can make it ? I don't have much faith in our ability to lower the price again . We're no match for them , the competition will beat us hands down . 

formal