Math Solutions

(Step-by-Step) A bus company charged $60 per person for a sightseeing trip and obtained 40 people for the trip. The company has data that indicates that for the

Question: A bus company charged $60 per person for a sightseeing trip and obtained 40 people for the trip. The company has data that indicates that for the same trip, each $2 increase in the price, above $60, would result in the loss of 1 customer.

  1. What should the company charge to maximize revenue?
  2. If fixed costs are $300 per trip and there is a cost of $4 per person, what should the company charge in order to maximize the profit?

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