Mathematics, 14.01.2021 20:20, trvptrav
14. You run Twin Wheels bike-rental shop. You
currently charge $10 per day and average 56 rentals
a day. In researching a price increase, you believe that for every
fifty-cent increase in rental price you can expect to lose two
rentals a day. Let n = the number of fifty-cent increases.
a. Write an expression for the new price after n increases.
b. Write an expression for the expected number of rentals after
n increases.
c. The total income for the day is equal to the price times the
number of rentals. Multiply the expressions in Parts a and b
to get an expression for the total daily income.
d. Find the rental price that will maximize the total daily
income.
Answers: 1
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14. You run Twin Wheels bike-rental shop. You
currently charge $10 per day and average 56 rentals
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