The manager of a hockey arena is pricing tickets for an upcoming game. She knows that if she increases the ticket price she will sell fewer tickets. The situation is modelled by the relation, R = -88.9p^2 + 2667p, where R is the total revenue and p is the ticket price, both in dollars. The graph is given. a) Identify each point on the graph and identify the meaning of each point for themanager.Optimal ValueAxis of symmetryZerosY-intercept(s) әпиәләуb) Can the values for p be negative? Explain why or why not.-25000-200001500010000-5000Identify point5Arena Revenue10 Ticket Price (S)25Explain the Meaning3035

Total revenue determines the amount earned from the quantity produced. The TR helps in determining…

a) Identify each point on the graph and identify the meaning of each point for the manager. Optimal Value Axis of symmetry Zeros Y-intercept Revenue ($) b) Can the values for p be negative? Explain why or why not. -25000 20000 15000 10000 5000 5 Identify point Arena Revenue 10 20 15 Ticket Price (S) 25 Explain the Meaning 30 35

a) Identify each point on the graph and identify the meaning of each point for the manager. Optimal Value Axis of symmetry Zeros Y-intercept Revenue ($) b) Can the values for p be negative? Explain why or why not. -25000 20000 15000 10000 5000 5 Identify point Arena Revenue 10 20 15 Ticket Price (S) 25 Explain the Meaning 30 35

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

ChapterA: The Use Of Mathematics In Principles Of Economics

Section: Chapter Questions

Problem 3RQ: Exercise A3 What dome slices of a pie chart represent?

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