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
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!!! :(
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