A tour bus in the historic district of Savannah, Georgia, serves 300 customers a day. The charge is $8 per person. The owner estimates that the company would lose 20 passengers per day for every fair $1 increase.
Which position would provide the most income for the company?
If the company were to increase their rate to this price, how much daily revenue should they expect to earn?

Answer rating: 100% (QA)

We must weigh the tradeoff between the increased revenue from a higher price and the decrease... View the full answer