A local car rental company rents out each of its cars on a daily basis, i.e. the car must be returned at the end of the day it is rented. The company has a fixed cost of $300 per day and there is an extra cost (for cleaning, maintenance, etc.) of $40 for each car that is rented out. For each car, the company charges $65 rent for the day. (a) Define an appropriate variable x, and write down the daily cost function C(x). (b) Write down the daily revenue function R(x). (c) Find how many cars must be rented out each day for the company to break even. Find the new rental charge p that would result in a profit of $360 per day for renting out 20 cars each day.
Equations and Inequations
Equations and inequalities describe the relationship between two mathematical expressions.
Linear Functions
A linear function can just be a constant, or it can be the constant multiplied with the variable like x or y. If the variables are of the form, x2, x1/2 or y2 it is not linear. The exponent over the variables should always be 1.
A local car rental company rents out each of its cars on a daily basis, i.e. the car must be returned at the end of the day it is rented. The company has a fixed cost of $300 per day and there is an extra cost (for cleaning, maintenance, etc.) of $40 for each car that is rented out. For each car, the company charges $65 rent for the day.
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(a) Define an appropriate variable x, and write down the daily cost function C(x).
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(b) Write down the daily revenue function R(x).
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(c) Find how many cars must be rented out each day for the company to break even.
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Find the new rental charge p that would result in a profit of $360 per day for renting out 20 cars each day.
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