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Elementary,Middle School,High School,College,University,PHD
Teaching Since: | Apr 2017 |
Last Sign in: | 235 Weeks Ago, 4 Days Ago |
Questions Answered: | 12843 |
Tutorials Posted: | 12834 |
MBA, Ph.D in Management
Harvard university
Feb-1997 - Aug-2003
Professor
Strayer University
Jan-2007 - Present
1.An automobile dealer can sell 12 cars per day at a price of $17,000. He estimates that for each $300 price reduction he can sell two more cars per day. If each car costs him $14,000, and fixed costs are $1000, what price should he charge to maximize his profit? [Hint: Let x = the number of $300 price reductions.]
$Â Â
Â
How many cars will he sell at this price?
 cars per day
Â
2.An airline finds that if it prices a cross-country ticket at $200, it will sell 300 tickets per day. It estimates that each $10 price reduction will result in 30 more tickets sold per day. Find the ticket price (and the number of tickets sold) that will maximize the airline's revenue.
ticket price$
number of tickets   Â
Â
3.A homeowner wants to build, along his driveway, a garden surrounded by a fence.Â
If the garden is to be 200 square feet, and the fence along the driveway costs $6 per foot while on the other three sides it costs only $2 per foot, find the dimensions that will minimize the cost.Â
length along the driveway ft
 length perpendicular to the driveway     ft
Â
Â
Find the minimum cost.
$Â
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