An average of 40,000 people visit Riverside Park each day in the summer. The park charges $15.00 for admission. Consultants predict that for each $1.00 increase in the entrance price, the park would lose an average of 2,500 customers per day. Express the daily revenue from ticket sales, R as a function of the number of $1.00 price increases, x R=f(x)= What ticket price maximizes the revenue from ticket sales?
An average of 40,000 people visit Riverside Park each day in the summer. The park charges $15.00 for admission. Consultants predict that for each $1.00 increase in the entrance price, the park would lose an average of 2,500 customers per day. Express the daily revenue from ticket sales, R as a function of the number of $1.00 price increases, x R=f(x)= What ticket price maximizes the revenue from ticket sales?
Big Ideas Math A Bridge To Success Algebra 1: Student Edition 2015
1st Edition
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
Publisher:HOUGHTON MIFFLIN HARCOURT
Chapter3: Graphing Linear Functions
Section: Chapter Questions
Problem 1CA
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Question
An average of 40,000 people visit Riverside Park each day in the summer. The park charges $15.00 for admission. Consultants predict that for each $1.00 increase in the entrance price, the park would lose an average of 2,500 customers per day.
Express the daily revenue from ticket sales, R as a function of the number of $1.00 price increases, x
R=f(x)=
What ticket price maximizes the revenue from ticket sales?
Expert Solution
Step 1
given that,
number of people =40000
ticket price=$15
and for each $1 increase in price,the park would lose 2500 customers
express the daily revenue from ticket sales,R as function of the number of $1 price increases x
and
what ticket price maximizes the revenue?
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