MY NOTES PRACTICE ANOTHER Charter Revenue The owner of a luxury motor yacht that salls among the 4000 Greek islands charges $704/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 100) for the cruise, then each fare is reduced by $8 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. passengers What is the maximum revenue? What would be the fare/passenger in this case? (Round your answer to the nearest dollar.) dollars per passenger

MY NOTES PRACTICE ANOTHER Charter Revenue The owner of a luxury motor yacht that salls among the 4000 Greek islands charges $704/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 100) for the cruise, then each fare is reduced by $8 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. passengers What is the maximum revenue? What would be the fare/passenger in this case? (Round your answer to the nearest dollar.) dollars per passenger

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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