A baseball team plays in a stadium that holds 54,000 spectators. With ticket prices at $10, the average attendance had been 49,000. When ticket prices were lowered to $8, the average attendance rose to 51,000. (a) Find the demand function (price p as a function of attendance x), assuming it to be linear. P(x) =| 59 (b) How should ticket prices be set to maximize revenue? (Round your answer to the nearest cent.) $ 5
A baseball team plays in a stadium that holds 54,000 spectators. With ticket prices at $10, the average attendance had been 49,000. When ticket prices were lowered to $8, the average attendance rose to 51,000. (a) Find the demand function (price p as a function of attendance x), assuming it to be linear. P(x) =| 59 (b) How should ticket prices be set to maximize revenue? (Round your answer to the nearest cent.) $ 5
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter3: Functions And Graphs
Section3.3: Lines
Problem 60E
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