Question

600​-room hotel can rent every one of its rooms at ​$80 per room. For each​ $1...

600​-room hotel can rent every one of its rooms at ​$80 per room. For each​ $1 increase in​ rent, 6 fewer rooms are rented. Each rented room costs the hotel​ $10 to service per day. How much should the hotel charge for each room to maximize its daily​ profit? What is the maximum daily​ profit?

Math   Precalculus   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
A 400​-room hotel can rent every one of its rooms at $100 per room. For each​...
A 400​-room hotel can rent every one of its rooms at $100 per room. For each​ $2 increase in​ rent, 4 fewer rooms are rented. Each rented room costs the hotel​ $12 to service per day. How much should the hotel charge for each room to maximize its daily​ profit? What is the maximum daily​ profit?
A 400 room hotel can rent every one of its rooms at $70 per room. For...
A 400 room hotel can rent every one of its rooms at $70 per room. For each $1 increase in rent, 5 fewer rooms are rented. Each rented room costs the hotel $10 to service per day. How much should the hotel charge for each room to maximize its daily profit? What is the maximum daily profit?
A hotel has 260 units. All rooms are occupied when the hotel charges $80 per day...
A hotel has 260 units. All rooms are occupied when the hotel charges $80 per day for a room. For every increase of x dollars in the daily room rate, there are x rooms vacant. Each occupied room costs $28 per day to service and maintain. What should the hotel charge per day in order to maximize daily profit?
1. A 600-room hotel in Las Vegas is filled to capacity every night at a price...
1. A 600-room hotel in Las Vegas is filled to capacity every night at a price of $106 per room. For each $1 increase in the room price, 3 fewer rooms are rented. If each rented room costs $10 to service per day, how much should the management charge for each room to maximize the total profit? 2. Find the absolute maximum and absolute minimum values (if they exist) of f(x) = ln x/ x on the interval (0, ∞)....
Suppose a hotel has annual fixed costs applicable to its rooms of $2,000,000 for its 300-room...
Suppose a hotel has annual fixed costs applicable to its rooms of $2,000,000 for its 300-room hotel. Average daily room rents are $50 per room and average variable costs are $10 for each room rented. It operates 365 days per year. If the hotel is completely full throughout the year, what is the operating income for one year? a. 1,280,000 b 2,380,000 c. 4,380,000 d. 3,180,000
1.Assume you are the manager of a hotel that has 381 rooms. You are trying to...
1.Assume you are the manager of a hotel that has 381 rooms. You are trying to determine the price that will maximize the revenue. You notice that as long as the hotel rate is $69 or lower, the hotel is fully booked. However if you raise the price above $69 you notice that for each $1 increase in price, three fewer rooms will be booked. Assuming that we call x the price increase, find a function that describes the revenue...
A resort can rent 100 canoes a day when they charge $30 per canoe for a...
A resort can rent 100 canoes a day when they charge $30 per canoe for a day’s rental. But each $2 increase in rental fees results in 4 fewer rentals. How many canoes should they rent to maximize revenue?
The 40-room limited-service Residence Inn has an ADR of $80 and variable costs per room sold...
The 40-room limited-service Residence Inn has an ADR of $80 and variable costs per room sold of $60. Assume there is no other sales activity. Its annual fixed costs total $180,000. If they desire their property to generate a pretax profit of $100,000, how many rooms must be sold? What is the occupancy percentage for the Inn when pretax profit earned is $100,000? Determine the Contribution margin (CM). If the Inn sells only 7,000 rooms, the loss for the year?...
ABC hotel has 200 rooms and has a policy to determine its room rates based on...
ABC hotel has 200 rooms and has a policy to determine its room rates based on consumers capacity to pay. For example busniess clients pay $1,200 per night and group tours $900 per night. The incremental cost of servicing a room is worked out at $110 per room. On average, most guest stay for three (3) nights. Rooms division manager is trying to establish if four (4) week advance reservation should be taken for a group booking of 40 rooms...
1. A resort recorded total revenue per guest of $178.74, TREVPAR of $92,439 and its occupancy...
1. A resort recorded total revenue per guest of $178.74, TREVPAR of $92,439 and its occupancy % is 79.3%. With a hotel size of 369 rooms, what is its multiple occupancy percentage? 2. A 267-room hotel achieved an average room rate of $141.12 and an occupancy of 68.03%. What is its RevPAR? 3. If a 397-room resort generated a TREVPAR of $131,032, an occupancy percentage of 79.6% and its dollars per guest day is $253.20, what is its multiple occupancy...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT