A car rental company charges its customers p dollars per day to rent a car, where 35≤p≤120. The number of cars rented per day can be modeled by the linear function n(p)=1200−10p. How much should the company charge each customer per day to maximize revenue? Do not include units or a dollar sign in your answer.

Question
Asked Apr 9, 2019
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A car rental company charges its customers p dollars per day to rent a car, where 35≤p≤120. The number of cars rented per day can be modeled by the linear function n(p)=1200−10p. How much should the company charge each customer per day to maximize revenue? Do not include units or a dollar sign in your answer.

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Expert Answer

Step 1

Consider the function that models the number of cars rented per day

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Step 2

The revenue function is given by the product of the number of cars n rented per day and the rental charges p dollars per day.

Obtain the revenue function as follows.

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Step 3

Differentiate the revenue function and equate ...

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Math

Calculus

Derivative

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