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Evaluate maximum revenue for the travel agency

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Reference no: EM131564050

Question: OPTIMAL CHARTER-FLIGHT FARE If exactly 200 people sign up for a charter flight, Leisure World Travel Agency charges $300/person. However, if more than 200 people sign up for the flight (assume this is the case), then each fare is reduced by $1 for each additional person. Determine how many passengers will result in a maximum revenue for the travel agency. What is the maximum revenue? What would be the fare per passenger in this case? Hint: Let x denote the number of passengers above 200. Show that the revenue function R is given by R(x) = (200 + x)(300 - x).

Reference no: EM131564050

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