Consider the demand for tickets to see a specific hockey team play. the price of the ticket can be related to the quantity demanded(q) by the function p=211-0.01q. when the arena is not close to full capacity the total cost can be expressed by the function cost=95q+5,000,000. Find marginal revenue(MR) as a function of quantity demanded. let p* and q* be the price and quantity demanded where profit is maximized. find p* and q*.

Consider the demand for tickets to see a specific hockey team play. the price of the ticket can be related to the quantity demanded(q) by the function p=211-0.01q. when the arena is not close to full capacity the total cost can be expressed by the function cost=95q+5,000,000. Find marginal revenue(MR) as a function of quantity demanded. let p* and q* be the price and quantity demanded where profit is maximized. find p* and q*.

Algebra and Trigonometry (MindTap Course List)

4th Edition

ISBN:9781305071742

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter2: Functions

Section2.4: Average Rate Of Change Of A Function

Problem 4.2E: bThe average rate of change of the linear function f(x)=3x+5 between any two points is ________.

See similar textbooks