+0  
 
0
834
1
avatar
Pedalworks rents bikes to tourist who want to explore the local trails. Data from previous rentals show that the shop will rent 7 more bikes per day for ever 1.50 decrease in rental price. The shop currently rents 63 bikes per day at a rental price of 39$. How much should the shop charge to maximize revenue? Book says the answer is 25.50 but I got no idea how to get this or how to do anything for this question please how do i solve this or if you solve it show steps so i can deduce what i must do
 Dec 3, 2012
 #1
avatar+1223 
0

This is an optimization problem.

 

Let x be the increase in bikes sold. So, we can write the expression \((63+7x)(39-1.5x)\).

 

Simplify and complete the square to find the maximum revenue and the corresponding value of x.

 Feb 21, 2021

0 Online Users