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Marginal Profit When the admission price for a baseball game was $30 per ticket, 36,000 tickets were sold. When the price was raised to $35, 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 $5 and $700,000, respectively.
(a) Find the profit P as a function of x, the number of tickets sold.
(b) Use a graphing utility to graph P, and comment about the slopes of P when
(c) Find the marginal profits when 18,000 tickets are sold, when 28,000 tickets are sold, and when 36,000 tickets are sold.
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Chapter 2 Solutions
Calculus: An Applied Approach (Providence College: MTH 109)
- An outpatient operating room charges each patient a fixed amount per surgery plus an amount per minute for use. One patient was charged 250 for a 30-minute surgery and another patient was charged 450 for a 90-minute surgery. Determine the linear function that would be used to compute the charges. Use the function to determine the charge when a patient has a 45-minute surgery.arrow_forwardWhat is the difference between a relation and a function?arrow_forward
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