A baseball team plays in a stadium that holds 66000 spectators. With the ticket price at $12 the average attendance has been 30000. When the price dropped to $10, the average attendance rose to 33000. a) Find the demand function p(x), where a is the number of the spectators. (Assume that p(x) is linear.) p(x): = 48000-q 3000 b) How should ticket prices be set to maximize revenue? Q Search The revenue is maximized by charging $ 8 per ticket. ...
A baseball team plays in a stadium that holds 66000 spectators. With the ticket price at $12 the average attendance has been 30000. When the price dropped to $10, the average attendance rose to 33000. a) Find the demand function p(x), where a is the number of the spectators. (Assume that p(x) is linear.) p(x): = 48000-q 3000 b) How should ticket prices be set to maximize revenue? Q Search The revenue is maximized by charging $ 8 per ticket. ...
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter8: Functions
Section8.CT: Test
Problem 19CT
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![A baseball team plays in a stadium that holds 66000 spectators. With the ticket price at $12 the average attendance has been 30000. When the
price dropped to $10, the average attendance rose to 33000.
a) Find the demand function p(x), where is the number of the spectators. (Assume that p(x) is linear.)
p(x) =
48000-q
3000
b) How should ticket prices be set to maximize revenue?
Search
The revenue is maximized by charging $ 8 per ticket.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7a51f0e4-947c-426b-a08a-1802df14b808%2Feb2090ab-4a7b-4e38-be1c-34ac09897632%2Fr3uhbtp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A baseball team plays in a stadium that holds 66000 spectators. With the ticket price at $12 the average attendance has been 30000. When the
price dropped to $10, the average attendance rose to 33000.
a) Find the demand function p(x), where is the number of the spectators. (Assume that p(x) is linear.)
p(x) =
48000-q
3000
b) How should ticket prices be set to maximize revenue?
Search
The revenue is maximized by charging $ 8 per ticket.
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