31. Maximizing profit. Gritz-Charlston is a 300-unitluxury hotel. All rooms are occupied when the hotelcharges $80 per day for a room. For every increase of xdollars in the daily room rate, there are x rooms vacant.Each occupied room costs $22 per day to service andmaintain. What should the hotel charge per day in or-der to maximize profit?

Given : Rooms = 300 Vacant rooms = increment of price…

Answered: 31. Maximizing profit. Gritz-Charlston…

Algebra for College Students

10th Edition

ISBN:9781285195780

Author:Jerome E. Kaufmann, Karen L. Schwitters

Publisher:Jerome E. Kaufmann, Karen L. Schwitters

Chapter12: Algebra Of Matrices

Section12.CR: Review Problem Set

Problem 37CR

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Similar questions

A manufacturer produces two models of television stands. The table at the left shows the times (in hours) required for assembling, staining, and packaging the two models. The total times available for assembling, staining, and packaging are 3750 hours, 8950 hours, and 2650 hours, respectively. The profits per unit are $30 for model I and $40 for model II. What is the optimal inventory level for each model? What is the optimal profit?
In Example 3, if the accountant earns a profit of 100 on each individual return and a profit of 175 on each business return, find the maximum profit. An accountant prepares tax returns for individuals and for small businesses. On average, each individual return requires 3 hours of her time and 1 hour of computer time. Each business return requires 4 hours of her time and 2 hours of computer time. Because of other business considerations, her time is limited to 240 hours, and the computer time is limited to 100 hours. If she earns a profit of 80 on each individual return and a profit of 150 on each business return, how many returns of each type should she prepare to maximize her profit?
If during the following year it is predicted that each comedy skit will generate 30 thousand and each musical number 20 thousand, find the maximum income for the year. A television program director must schedule comedy skits and musical numbers for prime-time variety shows. Each comedy skit requires 2 hours of rehearsal time, costs 3000, and brings in 20,000 from the shows sponsors. Each musical number requires 1 hour of rehearsal time, costs 6000, and generates 12,000. If 250 hours are available for rehearsal and 600,000 is budgeted for comedy and music, how many segments of each type should be produced to maximize income? Find the maximum income.

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