The owner of a luxury motor yacht that sails among the 4000, Ask an Expert

Economics

The owner of a luxury motor yacht that sails among the 4000 Greek islands charges $344/person/day if exactly 20 people sign up for the cruise. However, if more than 20 people sign up (up to the maximum capacity of 100) for the cruise, then each fare is reduced by $4 for each additional passenger.

Assuming at least 20 people sign up for the cruise, determine how many passengers will result in the maximum revenue for the owner of the yacht.

_____________ passengers

What is the maximum revenue?

$ ________

What would be the fare/passenger in this case? (Round your answer to the nearest dollar.)

____________ dollars per passenger

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91828309

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