The owner of a luxury motor yacht that sails among the 4000 greek islands charges $552/person/day if exactly 20 people sign up for the cruise. however, if more than 20 people sign up (up to the maximum capacity of 90) for the cruise, then every fare is reduced by $4 for each additional passenger. assuming at least 20 people sign up for the cruise, determine how many passengers will result in the maximum revenue for the owner of the yacht. passengerswhat is the maximum revenue? $ what would be the fare per passenger in this case? (round your answer to the nearest dollar.) dollars per passenger

a).The maximum revenue for the owner of the yacht will only be possible at maximum capacity, when total number of passengers=90

b). Total maximum revenue=$42,400

c).The fare per passenger=$471

Explanation:

a).The maximum revenue for the owner of the yacht will only be possible at maximum capacity, when total number of passengers=90

b). Total maximum revenue

Total revenue=Chargers per person for the first 20+Total amount for additional people

where;

Charges per person for the first 20=(552×20)=11,040 per day

A discount of $4 for additional persons=(552-4)=448 per day for all additional persons

Additional people=(90-20)=70

Total amount for the additional people=(448×70)=31,360 per day

Replacing;

Total revenue=(11,040+31,360)=$42,400

Total maximum revenue=$42,400

c). Fare per passenger

Fare per passenger=Total maximum revenue/total number of passengers

where;

Total maximum revenue=$42,400

Total number of passengers=90

replacing;

Fare per passenger=42,400/90=471.11 to nearest dollar=$471

The fare per passenger=$471

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