Duplicate Question
The question on this page has been marked as a duplicate question.
Original Question
A baseball team plays in a stadium that holds 68000 spectators. With the ticket price at $11 the average attendence has been 27...Asked by Andrea
A baseball team plays in a stadium that holds 66000 spectators. With the ticket price at $12 the average attendence has been 29000. When the price dropped to $9, the average attendence rose to 33000. Assume that attendence is linearly related to ticket price.What ticket price would maximize revenue? Please help ASAP!!! :(
Answers
Answered by
oobleck
the attendance rose 4000 on a price drop of $3
So, if there are x price drops, the revenue R(x) will be
R(x) = (29000+4000x)(12-3x)
Now just find the vertex of that parabola.
Make sure that it does not occur when attendance is greater than 66,000
So, if there are x price drops, the revenue R(x) will be
R(x) = (29000+4000x)(12-3x)
Now just find the vertex of that parabola.
Make sure that it does not occur when attendance is greater than 66,000
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.