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A travel agency currently has 80plp signed up a tour. The price of a ticket is $5000 per person. The agency has chatered a plane seating 150 plp at a cost of $250000. Additional costs to the agency are incidental fees of $300 per person. For each $30 that the price is loverwd, one new perosn will sign up. How much should the price per person be lowered to maximise the profit fo the agency?

  • Calculus - ,

    P= r - c
    p= (5000-30x)(80+x)-300x
    p'= -60x + 2300
    x = 38.3
    therefore 38.3 * 30 = 1150 per person

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