A 200-room hotel in Reno is filled to capacity every night at a rate of $40 per
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A 200-room hotel in Reno is filled to capacity every night at a rate of $40 per room. For each $1 increase in the nightly rate, 4 fewer rooms are rented. If each rented room costs $8 a day to service, how much should the management charge per room in order to maximize gross profit? What is the maximum gross profit?
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Increase in cos t 40 x Decrease in room 20...View the full answer
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Related Book For 
College Mathematics For Business Economics, Life Sciences, And Social Sciences
ISBN: 978-0134674148
14th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker
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