Asked by Adeola
A travel agency currently has 80plp signed up a tour. The price of a ticket is $5000 per person. The agency has chatered a plane seating 150 plp at a cost of $250000. Additional costs to the agency are incidental fees of $300 per person. For each $30 that the price is loverwd, one new perosn will sign up. How much should the price per person be lowered to maximise the profit fo the agency?
Answers
Answered by
dave
P= r - c
p= (5000-30x)(80+x)-300x
p'= -60x + 2300
x = 38.3
therefore 38.3 * 30 = 1150 per person
p= (5000-30x)(80+x)-300x
p'= -60x + 2300
x = 38.3
therefore 38.3 * 30 = 1150 per person
Answered by
Dennis
X additional people
R=(80+x)(5000-30x)
(80+x) is total people
(5000-30x) is ticket price
C=300x + 250 000
P = R - C
P= (80+x)(5000-30x) - (300x + 250 000)
Expand and take derivative
P'= -60x + 2300
X = 38.3
Plug x into ticket change per person
30 × 38.3 = 1149 in ticket cost diff.
R=(80+x)(5000-30x)
(80+x) is total people
(5000-30x) is ticket price
C=300x + 250 000
P = R - C
P= (80+x)(5000-30x) - (300x + 250 000)
Expand and take derivative
P'= -60x + 2300
X = 38.3
Plug x into ticket change per person
30 × 38.3 = 1149 in ticket cost diff.