5. I can not answer this question A university is trying to determine what price to charge for tickets to football games. At a price of $30 per ticket, attendance averages 40,000 people per game. Every decrease of $2 adds 10,000 people to the average number. Every person at the game spends an average of$3.00 on concessions. What price per ticket should be charged in order to maximize revenue? How many people will attend at that price?What is the price per ticket?

Answered: Image /qna-images/answer/e7128558-d544-4069-bb15-66b532e79f09.jpg

Answered: A university is trying to determine…

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.CR: Review Problem Set

Problem 50CR

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Similar questions

At the Pizza Dude restaurant, a 12-in. pizza costs 5.40 to make, and the manager wants to make at least 4.80 from the sale of each pizza. If the pizza will be sold by the slice and each pizza is cut into 6 pieces, what is the minimum charge per slice?
A company manufactures two fertilizers, x and y. Each 50-pound bag of fertilizer requires three ingredients, which are available in the limited quantities shown in the table. The profit on each bag of fertilizer x is 6 and on each bag of y is 5. How many bags of each product should be produced to maximize the profit? Ingredient Number of Pounds in Fertilizer x Number of Pounds in Fertilizer y Total number of Pounds Available Nitrogen 6 10 20,000 Phosphorus 8 6 16,400 Potash 6 4 12,000
The manufacturer of a weight training bench spends $15 to build each bench and sells them for $32. The manufacturer also has fixed costs each month of $25,500. (a) Find the cost function C when x benches are manufactured. (b) Find the revenue function R when x benches are sold. (c) Show the break-even point by graphing both the Revenue and Cost functions on the same grid. (d) Find the break-even point. Interpret what the break-even point means.
In Example 3, if the accountant earns a profit of 100 on each individual return and a profit of 175 on each business return, find the maximum profit. An accountant prepares tax returns for individuals and for small businesses. On average, each individual return requires 3 hours of her time and 1 hour of computer time. Each business return requires 4 hours of her time and 2 hours of computer time. Because of other business considerations, her time is limited to 240 hours, and the computer time is limited to 100 hours. If she earns a profit of 80 on each individual return and a profit of 150 on each business return, how many returns of each type should she prepare to maximize her profit?
Kenneth currently sells suits for company A at a salary of $22,000 plus a $10 commission for each suit sold. Company B offers him a position with a salary of $28,000 plus a $4 commission for each suit sold. How many suits would Kenneth need to sell for the options to be equal?
If you are performing a break-even analysis for a business and their cost and revenue equations are dependent, explain what this means for the company's profit margins.

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