What would be the fare per passenger in this case

Reference no: EM131169179

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: EM131169179

Questions Cloud

How many passengers will result in the maximum revenue : determine how many passengers will result in the maximum revenue for the owner of the yacht. What is the maximum revenue? What would be the fare/passenger in this case?

What can african nations do to successfully make transition : Review the article,The Nemesis of Individualistic Ontology in Globalization and the Practice of Liberal Democracy in Post-Colonial Africa, by Chimakonam, Agu, and Agbo (2014), which is required reading for Module 3. Based on the article, what chal..

Prepare an income statement for the year : Two accountants for the firm of Elwes and Wright are arguing about the merits of presenting an income statement in a multiple-step versus a single-step format. Prepare an income statement for the year 2014 using the multiple-step form. Common share..

Design a rectangular reinforced concrete beam to resist : Design a rectangular reinforced concrete beam to resist a total design moment Mu of 765 ft.-kips (this includes the moment due to the weight of the beam).

What would be the fare per passenger in this case : 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).

How many trees should be planted in order to maximize yield : MAXIMIZING YIELD An apple orchard has an average yield of 36 bushels of apples/tree if tree density is 22 trees/acre. For each unit increase in tree density, the yield decreases by 2 bushels/tree. How many trees should be planted in order to maxim..

Design rectangular reinforced concrete beam to carry service : Design a rectangular reinforced concrete beam to carry service loads of 1.25 kips/ft dead load (includes beam weight) and 2.60 kips/ft live load.

What are the dimensions of the enclosure : For aesthetic reasons, it has been decided that the height of the cabinet is to be 1.5 times its width. If the top, bottom, and sides of the cabinet are constructed of veneer costing 40¢/square foot and the front (ignore the cutouts in the baffle)..

Define the term principal-agent problem : 1) Define the term principal-agent problem. What principal-agent problems exist in a market? What principal-agent problems exist in a firm? What are possible solutions to principal-agent issues within the firm?

User Account

All Pages