A car rental agency has 24 identical cars. The owner of the agency finds that at a price of $10 per day, all the cars can be rented. However, for each $1 increase in rental, one of the cars is not rented. What should he charge to maximize income? (Note: You must check your second-order condition.)
+37084 24 x10 = 240
23 x 11= 253
22 x 12= 264
21 x 13= 273
20 x 14=280
19 x 15=285
18 x 16= 288
17 x 17= 289
16 x 18= 288
15 x 19 =285
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As you can see maximum is 17 dollars a day....
