Mathematics, 14.01.2022 01:50 ethanm2685

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: 3

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14. You run Twin Wheels bike-rental shop. You currently charge $10 per day and average 56 rentals<...