An enterprise rents out paddleboats for all-day use on a lake. The owner knows that he can rent out all 38 of his paddleboats if he charges $2 for each rental. He also knows that he can rent out only 37 if he charges $3 for each rental and that, in general, there vill be 1 less paddleboat rental for each extra dollar he charges per rental. (a) What would the owner's total revenue be if he charged $4 for each paddleboat rental? (b) Use a formula to express the number of rentals N as a function of the amount charged for each rental r. (c) Use a formula to express the total revenue 7 as a function of the amount charged for each rental r. (d) How much should the owner charge to get the largest total revenue?

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
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An enterprise rents out paddleboats for all-day use on a lake. The owner knows that he can rent out all 38 of his paddleboats if he charges $2 for each rental. He also knows that he can rent out only 37 if he charges $3 for each rental and that, in general, there will be 1 less paddleboat rental for each
extra dollar he charges per rental.
(a) What would the owner's total revenue be if he charged $4 for each paddleboat rental?
(b) Use a formula to express the number of rentals N as a function of the amount charged for each rental r.
(c) Use a formula to express the total revenue 7 as a function of the amount charged for each rental r.
7 =
(d) How much should the owner charge to get the largest total revenue?
Transcribed Image Text:An enterprise rents out paddleboats for all-day use on a lake. The owner knows that he can rent out all 38 of his paddleboats if he charges $2 for each rental. He also knows that he can rent out only 37 if he charges $3 for each rental and that, in general, there will be 1 less paddleboat rental for each extra dollar he charges per rental. (a) What would the owner's total revenue be if he charged $4 for each paddleboat rental? (b) Use a formula to express the number of rentals N as a function of the amount charged for each rental r. (c) Use a formula to express the total revenue 7 as a function of the amount charged for each rental r. 7 = (d) How much should the owner charge to get the largest total revenue?
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