Consider a price-demand model for tickets to see a specific hockey team play. The price p of a single-game ticket can be related to the quantity demanded, q, by the function p=148-0.01g dollars. When the arena is not at full capacity the total cost for a single game (in dollars) can be expressed by the function C(q) = 54q+ 50000 (a) Find marginal revenue as a function of the quantity of tickets demanded R(q) = (b) To maximize profit, the hockey team should set their ticket price to be S and we expect they will sell game tickets at this price
Consider a price-demand model for tickets to see a specific hockey team play. The price p of a single-game ticket can be related to the quantity demanded, q, by the function p=148-0.01g dollars. When the arena is not at full capacity the total cost for a single game (in dollars) can be expressed by the function C(q) = 54q+ 50000 (a) Find marginal revenue as a function of the quantity of tickets demanded R(q) = (b) To maximize profit, the hockey team should set their ticket price to be S and we expect they will sell game tickets at this price
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter3: Linear And Nonlinear Functions
Section: Chapter Questions
Problem 26MCQ
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