Question

A university is trying to determine what price to charge for tickets to football games. At a price of ​$30 per​ ticket, attendance averages 40,000 people per game. Every decrease of ​$5 adds 10,000 people to the average number. Every person at the game spends an average of ​$5.00 on concessions. What price per ticket should be charged in order to maximize​ revenue? How many people will attend at that​ price?

Answer 1

x = number of $5 discounts
ticket price: 30-5x
attendance: 40000 + 10000x

revenue: (40000 + 10000x)(5+(30-5x))
max revenue at x=7
Huh? Pay people $5 to attend?

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