The demand for tickets to an amusement park is given by p=80−0.01q, where p is the price of a ticket in dollars and q is the number of people attending at that price. (a) What price generates an attendance of 7000 people? What is the total revenue at that price? What is the total revenue if the price is $20? A price of $ generates an attendance of 7000 people and total revenue of $ . When the price is $20 the total revenue is $ . (b) Write the revenue function as a function of attendance, q, at the amusement park. Use the multiplication sign in all cases of multiplication. R(q)= (c) What attendance maximizes revenue? q= (d) What price should be charged to maximize revenue? The optimal price for a ticket at the amusement park is $ . (e) What is the maximum revenue? Can we determine the corresponding profit? Revenue =$ The corresponding profit (Click for List)cancannot be determined.
The demand for tickets to an amusement park is given by p=80−0.01q, where p is the price of a ticket in dollars and q is the number of people attending at that price.
(a) What price generates an attendance of 7000 people? What is the total revenue at that price? What is the total revenue if the price is $20?
A price of $ generates an attendance of 7000 people and total revenue of $ .
When the price is $20 the total revenue is $ .
(b) Write the revenue function as a function of attendance, q, at the amusement park. Use the multiplication sign in all cases of multiplication.
| R(q)= |
(c) What attendance maximizes revenue?
q=
(d) What price should be charged to maximize revenue?
The optimal price for a ticket at the amusement park is $ .
(e) What is the maximum revenue? Can we determine the corresponding profit?
| Revenue =$ |
The corresponding profit (Click for List)cancannot be determined.
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 4 images
