When the admission price for a baseball game was $18 per ticket, 36,000 tickets were sold. When the price was raised to $21, only 32,000 tickets were sold. Assume that the demand function is linear and that the marginal and fixed costs for the ballpark owners are $3 and $700,000, respectively (a) Find the profit Pas a function of x, the number of tickets sold. P= (b) Use a graphing utility to graph P, and comment about the slopes of P when x = 18,000, x = 28,000, and x = 40,000. At x = 18,000, the slope of P is -Select-V At x= 28,000, the slope of P is -Select--v. At x= 40,000, the slope of Pis --Select-V (c) Find the marginal profits, in dollars per ticket, when 18,000 tickets are sold, when 28,000 tickets are sold, and when 40,000 tickets are sold. P(18,000) - $ P'(28,000) - $ P(40,000) - $ per ticket per ticket

When the admission price for a baseball game was $18 per ticket, 36,000 tickets were sold. When the price was raised to $21, only 32,000 tickets were sold. Assume that the demand function is linear and that the marginal and fixed costs for the ballpark owners are $3 and $700,000, respectively (a) Find the profit Pas a function of x, the number of tickets sold. P= (b) Use a graphing utility to graph P, and comment about the slopes of P when x = 18,000, x = 28,000, and x = 40,000. At x = 18,000, the slope of P is -Select-V At x= 28,000, the slope of P is -Select--v. At x= 40,000, the slope of Pis --Select-V (c) Find the marginal profits, in dollars per ticket, when 18,000 tickets are sold, when 28,000 tickets are sold, and when 40,000 tickets are sold. P(18,000) - $ P'(28,000) - $ P(40,000) - $ per ticket per ticket

College Algebra (MindTap Course List)

12th Edition

ISBN:9781305652231

Author:R. David Gustafson, Jeff Hughes

Publisher:R. David Gustafson, Jeff Hughes

Chapter3: Functions

Section3.3: More On Functions; Piecewise-defined Functions

Problem 88E

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