A hotel rents rooms to customers by the night. The hotel determines that if it sets the price of the room to be $150 per night, 145 rooms will be rented. In order to rent 195 rooms, it must lower the price to $100 per night. What price must it set in order to maximize revenue?

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter9: Quadratic Equations And Functions
Section9.6: Graph Quadratic Functions Using Properties
Problem 9.104TI: A path of a toy rocket thrown upward from the ground at a rate of 208 ft/sec is modeled by the...
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A hotel rents rooms to customers by the night. The hotel determines that if it sets the price of the room to be $150 per night, 145 rooms will be rented. In order to rent 195 rooms, it must lower the price to $100 per
night. What price must it set in order to maximize revenue?
The price would be $ per night.
(Round answer to two decimal places.)
Transcribed Image Text:A hotel rents rooms to customers by the night. The hotel determines that if it sets the price of the room to be $150 per night, 145 rooms will be rented. In order to rent 195 rooms, it must lower the price to $100 per night. What price must it set in order to maximize revenue? The price would be $ per night. (Round answer to two decimal places.)
Given cost and price (demand) functions C(q) = 120q + 45,000 and p(q) = - 1.9q + 860, what is the maximum revenue that can be earned?
%3D
It would be $.
(Round answer to nearest cent.)
Transcribed Image Text:Given cost and price (demand) functions C(q) = 120q + 45,000 and p(q) = - 1.9q + 860, what is the maximum revenue that can be earned? %3D It would be $. (Round answer to nearest cent.)
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