When a movie theater charges $12 for admission, there is an average attendance of 240 people per day. For every $1.50 price increase, there is a loss of 15 customers per day. What admission should be charged to maximize revenue? How many people will be attending at this price?
When a movie theater charges $12 for admission, there is an average attendance of 240 people per day. For every $1.50 price increase, there is a loss of 15 customers per day. What admission should be charged to maximize revenue? How many people will be attending at this price?
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter12: Algebra Of Matrices
Section12.CR: Review Problem Set
Problem 37CR
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When a movie theater charges $12 for admission, there is an average
attendance of 240 people per day. For every $1.50 price increase, there
is a loss of 15 customers per day.
What admission should be charged to maximize revenue?
How many people will be attending at this price?
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