How much should the management charge for each room

Assignment Help Project Management

Reference no: EM131268943

Rental income:-

A 300-room hotel in Las Vegas is filled to capacity every night at $80 a room. For each $1 increase in rent, 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 gross profit? What is the maximum gross profit?

Reference no: EM131268943

Questions Cloud

What is the maximum income : For each $1 increase in rate, 5 fewer cars are rented. At what rate should the cars be rented to produce the maximum income? What is the maximum income?

How chosen organization determines what quantity of labor : Presentation to be presented to the CEO's executive committee that addresses how your chosen organization determines what quantity of labor to demand and what events could shift the demand and supply of that labor.

Would you choose to let your currency float : You are the prime minister of a new African nation that is oil rich. Your currency is the Zambia (made up name). Would you choose to let your currency float, be pegged or do something else? Provide reasons for doing so.

Find the value of l and c at resonance : The bandwidth of a series resonant circuit is 200 Hz. If the resonant frequency is 2000 Hz, what is the value of Qs for the circuit?

How much should the management charge for each room : If each rented room costs $10 to service per day, how much should the management charge for each room to maximize gross profit?

How many trees should be planted per acre : If, for each additional tree planted per acre (up to 20), the average yield per tree is reduced by 1 pound, how many trees should be planted per acre to obtain the maximum yield per acre? What is the maximum yield?

Solidify the importance and expansion of christianity : What were the outstanding accomplishments of the Byzantine empire under Justinian and Theodora's rule? What was Theodora's role in the governance of Constantinople? What was unusual about her role, for the time? In what ways did they preserve the cul..

Bottom of the ladder standing on level : A 13 foot ladder is placed against a vertical wall of a building, with the bottom of the ladder standing on level ground 7 feet from the base of the building. How high up the wall does the ladder reach?

Practitioners continue to debate the use of rehabilitation : Should murderers be allowed to return to society if they are no longer deemed a threat? For many people, the answer to this question is dependent on their belief whether it is possible for murderers to be rehabilitated. While scholars and practitione..

User Account

All Pages