Owners of a car rental company have determined that if they charge customers p dollars per day to rent a car, where 50

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.6: Permutations And Combinations
Problem 5SC: In how many ways can 5 people stand in a line if one person demands to be first?
icon
Related questions
Topic Video
Question

Please see image attached, thank you

Owners of a car rental company have determined that if they charge
customers p dollars per day to rent a car, where 50 <p < 200, the
number of cars n they rent per day can be modeled by the linear
function n(p) = 1000 – 5p.
If they charge $50 per day or less, they will rent all their cars. If they
charge $200 per day or more, they will not rent any cars.
Assuming the owners plan to charge customers between $50 per day
and $200 per day to rent a car, how much should they charge to
maximize their revenue?
Transcribed Image Text:Owners of a car rental company have determined that if they charge customers p dollars per day to rent a car, where 50 <p < 200, the number of cars n they rent per day can be modeled by the linear function n(p) = 1000 – 5p. If they charge $50 per day or less, they will rent all their cars. If they charge $200 per day or more, they will not rent any cars. Assuming the owners plan to charge customers between $50 per day and $200 per day to rent a car, how much should they charge to maximize their revenue?
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 3 images

Blurred answer
Knowledge Booster
Research Design Formulation
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, calculus and related others by exploring similar questions and additional content below.
Recommended textbooks for you
College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
Algebra: Structure And Method, Book 1
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
Elementary Geometry For College Students, 7e
Elementary Geometry For College Students, 7e
Geometry
ISBN:
9781337614085
Author:
Alexander, Daniel C.; Koeberlein, Geralyn M.
Publisher:
Cengage,
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill