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Maximizing profit Suppose you own a tour bus and you book
Chapter 7, Problem 48E(choose chapter or problem)
Suppose you own a tour bus and you book groups of 20 to 70 people for a day tour. The cost per person is $30 minus $0.25 for every ticket sold. If gas and other miscellaneous costs are $200, how many tickets should you sell to maximize your profit? Treat the number of tickets as a nonnegative real number.
Questions & Answers
QUESTION:
Suppose you own a tour bus and you book groups of 20 to 70 people for a day tour. The cost per person is $30 minus $0.25 for every ticket sold. If gas and other miscellaneous costs are $200, how many tickets should you sell to maximize your profit? Treat the number of tickets as a nonnegative real number.
ANSWER:Solution 48E Step 1 Consider R as the profit that will be made by selling the bus tickets and N as the total number of tickets being sold, and P as the price for one person. And since the miscellaneous costs are $200 , the profit is calculated using the formula, profit = (number of tickets being sold)(cost per person) (miscellaneous cost) R = NP 200 Consider x as the increment value in the n