A jazz group on tour has been drawing average crowds of 1000 people. It is projected that for every $1 increase in the $17 ticket price, the average attendance will decrease by 60. What equation could be used to solve this problem and at what ticket price will nightly receipts be $16,400?

Answer 1

let the number of $1 increases be n

number of tickets sold = 1000 - 60n
price per ticket = 17 + n

Receipts = (17+n)(1000-60n)
expand and collect like terms

Set this equal to 16400 and solve using the quadratic formula