Concept explainers
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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