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A car rental agency rents 140 cars per day at a rate of 45 dollars per day. For each 1 dollar increase in the daily rate, 4 fewer cars are rented. (a) If x is the number of cars rented in a day, and p is the daily rental price per car, what is the price-demand equation (assuming it is linear)? P- (b) What is the daily revenue function for the agency? (Hint: Revenue is the product of the price per item and the number of items.) R(x)- (c) How many cars should be rented to maximize daily revenue? cars (d) What is the maximum daily revenue for the agency? $ (e) What daily rental price should the agency charge to maximize daily revenue? $

A car rental agency rents 140 cars per day at a rate of 45 dollars per day. For each 1 dollar increase in the daily rate, 4 fewer cars are rented. (a) If x is the number of cars rented in a day, and p is the daily rental price per car, what is the price-demand equation (assuming it is linear)? P- (b) What is the daily revenue function for the agency? (Hint: Revenue is the product of the price per item and the number of items.) R(x)- (c) How many cars should be rented to maximize daily revenue? cars (d) What is the maximum daily revenue for the agency? $ (e) What daily rental price should the agency charge to maximize daily revenue? $

College Algebra
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter1: Equations And Graphs
Section1.3: Lines
Problem 92E
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A car rental agency rents 140 cars per day at a rate of 45 dollars per day. For each 1 dollar increase in the daily rate, 4 fewer cars are rented. (a) If x is the number of cars rented in a day, and p is the daily rental price per car, what is the price-demand equation (assuming it is linear)? P- (b) What is the daily revenue function for the agency? (Hint: Revenue is the product of the price per item and the number of items.) R(x)- (c) How many cars should be rented to maximize daily revenue? cars (d) What is the maximum daily revenue for the agency? $ (e) What daily rental price should the agency charge to maximize daily revenue? $
Transcribed Image Text:A car rental agency rents 140 cars per day at a rate of 45 dollars per day. For each 1 dollar increase in the daily rate, 4 fewer cars are rented. (a) If x is the number of cars rented in a day, and p is the daily rental price per car, what is the price-demand equation (assuming it is linear)? P- (b) What is the daily revenue function for the agency? (Hint: Revenue is the product of the price per item and the number of items.) R(x)- (c) How many cars should be rented to maximize daily revenue? cars (d) What is the maximum daily revenue for the agency? $ (e) What daily rental price should the agency charge to maximize daily revenue? $
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