Owners of a bike rental company that charges customers between $3 and $20 per day have determined that the number of bikes rented per day n can be modeled by the linear function n(p)=100-5p, where p is the daily rental charge. Suppose that the company wanted to determine "How much should the company charge each customer per day to maximize revenue? Which steps below are necessary on this problem to use methods of calculus to find the maximum revenue? Choose the 2 correct answers from below. Use the first or second derivative test or the extreme value theorem to find the maximum revenue. Graph n(p) and find the maximum. Find a function that represents the revenue. V Find the values of the revenue functior only at x=3 and x=20. One of those must maximize the revenue. Find the derivative of n(p) to find critical values. Then evaluate n(p) at the critical values. The highest value you get must be the maximum revenue.
Owners of a bike rental company that charges customers between $3 and $20 per day have determined that the number of bikes rented per day n can be modeled by the linear function n(p)=100-5p, where p is the daily rental charge. Suppose that the company wanted to determine "How much should the company charge each customer per day to maximize revenue? Which steps below are necessary on this problem to use methods of calculus to find the maximum revenue? Choose the 2 correct answers from below. Use the first or second derivative test or the extreme value theorem to find the maximum revenue. Graph n(p) and find the maximum. Find a function that represents the revenue. V Find the values of the revenue functior only at x=3 and x=20. One of those must maximize the revenue. Find the derivative of n(p) to find critical values. Then evaluate n(p) at the critical values. The highest value you get must be the maximum revenue.
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter4: Polynomial And Rational Functions
Section4.3: Zeros Of Polynomials
Problem 65E
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