ANOTHER A baseball team plays in a stadium that holds 52,000 spectators. With ticket prices at $10, the average attendance had been 16,000. When ticket prices were lowered to $8, the average attendance rose to 24,000. (a) Find the demand function (price p as a function of attendance x), assuming it to be linear. P(x) = (b) How should ticket prices be set to maximize revenue? (Round your answer to the nearest cent.)
ANOTHER A baseball team plays in a stadium that holds 52,000 spectators. With ticket prices at $10, the average attendance had been 16,000. When ticket prices were lowered to $8, the average attendance rose to 24,000. (a) Find the demand function (price p as a function of attendance x), assuming it to be linear. P(x) = (b) How should ticket prices be set to maximize revenue? (Round your answer to the nearest cent.)
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter8: Functions
Section8.CT: Test
Problem 19CT
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