A baseball team plays in a stadium that holds 58000 spectators. With the ticket price at $11 the average attendance has been 26000. When the price dropped to $10, the average attendance rose to 29000. Assume that attendance is linearly related to ticket price. What ticket price would maximize revenue? $

A baseball team plays in a stadium that holds 58000 spectators. With the ticket price at $11 the average attendance has been 26000. When the price dropped to $10, the average attendance rose to 29000. Assume that attendance is linearly related to ticket price. What ticket price would maximize revenue? $

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter19: Elasticity

Section19.1: Elasticity: Part 1

Problem 3ST

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