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A local travels company is in the business of car rentals. Due to covid, pricing of the car rentals is important. Assuming the car rental company charges Rs 500 per day then they can rent all the cars, however, if they change Rs 2000 per day then they cannot rent any car due to high cost. Let e be the cost of the car. The number of cars rented can be modelled using the linear function n(c) = 5000-3c. What should the owners charge to maximize their revenue?

A local travels company is in the business of car rentals. Due to covid, pricing of the car rentals is important. Assuming the car rental company charges Rs 500 per day then they can rent all the cars, however, if they change Rs 2000 per day then they cannot rent any car due to high cost. Let e be the cost of the car. The number of cars rented can be modelled using the linear function n(c) = 5000-3c. What should the owners charge to maximize their revenue?

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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A local travels company is in the business of car rentals. Due to covid, pricing of the car rentals is important. Assuming the car rental company charges Rs 500 per day then they can rent all the cars, however, if they change Rs 2000 per day then they cannot rent any car due to high cost. Let e be the cost of the car. The number of cars rented can be modelled using the linear function n(c) = 5000-3c. What should the owners charge to maximize their revenue?
Transcribed Image Text:A local travels company is in the business of car rentals. Due to covid, pricing of the car rentals is important. Assuming the car rental company charges Rs 500 per day then they can rent all the cars, however, if they change Rs 2000 per day then they cannot rent any car due to high cost. Let e be the cost of the car. The number of cars rented can be modelled using the linear function n(c) = 5000-3c. What should the owners charge to maximize their revenue?
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