A baseball team plays in a stadium that holds 52,000 spectators. With the ticket price at $10, the average attendance at recent games has been 21,000. A market survey indicates that for every dollar the ticket price is lowered, attendance increases by 3000. (a) Find a function that models the revenue in terms of ticket price. (Let x represent the price of a ticket and R represent the revenue.) R(x) = (b) Find the price that maximizes revenue from ticket sales. $8.5 (C). What ticket price is so high that no revenue is generated? Enter a number

A baseball team plays in a stadium that holds 52,000 spectators. With the ticket price at $10, the average attendance at recent games has been 21,000. A market survey indicates that for every dollar the ticket price is lowered, attendance increases by 3000. (a) Find a function that models the revenue in terms of ticket price. (Let x represent the price of a ticket and R represent the revenue.) R(x) = (b) Find the price that maximizes revenue from ticket sales. $8.5 (C). What ticket price is so high that no revenue is generated? Enter a number

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

ChapterB: Differential Calculus Techniques In Management

Section: Chapter Questions

Problem 8E

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