Illustrate what will be the incremental revenue generated

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Q. 1) The Old Van Rental Industry has 6 vans available for rent late on Wednesday night when the office gets a call from a small group of tourists wishing to rent 3 vans for the next day (one day rental). The daily rate which the rental industry charges is $40 per van. Explain however, the group is willing to pay just $30 per van. The industry has fixed costs of $ 200,000. Illustrate what will be the incremental revenue generated if the rental industry decides to accept the price offered by the group?

Reference no: EM1394449

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