A mall has a theater that seats 646 people and charges between $6 and $14 per ticket. When tickets to a movie cost $14, the average attendance was 117 people. When ticket prices were lowered to $6, the average attendance was 548 people. Assuming the demand function is linear, how much should a ticket cost in order to maximize revenue? Round your answer to the nearst cent.
A mall has a theater that seats 646 people and charges between $6 and $14 per ticket. When tickets to a movie cost $14, the average attendance was 117 people. When ticket prices were lowered to $6, the average attendance was 548 people. Assuming the demand function is linear, how much should a ticket cost in order to maximize revenue? Round your answer to the nearst cent.
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter2: Functions
Section2.5: Linear Functions And Models
Problem 5E
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A mall has a theater that seats 646 people and charges between $6 and $14 per ticket. When tickets to a movie cost $14, the average attendance was 117 people. When ticket prices were lowered to $6, the average attendance was 548 people. Assuming the demand function is linear, how much should a ticket cost in order to maximize revenue?
Round your answer to the nearst cent.
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