A baseball team plays in a stadium that holds 53,000 spectators. With ticket prices at $10, the average attendance had been 38,000. When ticket prices were lowered to $8, the average attendance rose to 42,000. (a) Find the demand function (price p as a function of attendance x), assuming it to be linear. p(x) = x (b) How should ticket prices be set to maximize revenue? (Round your answer to the nearest cent.) X
A baseball team plays in a stadium that holds 53,000 spectators. With ticket prices at $10, the average attendance had been 38,000. When ticket prices were lowered to $8, the average attendance rose to 42,000. (a) Find the demand function (price p as a function of attendance x), assuming it to be linear. p(x) = x (b) How should ticket prices be set to maximize revenue? (Round your answer to the nearest cent.) X
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter9: Polynomial And Rational Functions
Section9.4: Graphing Polynomial Functions
Problem 44PS: A company determines that its weekly profit from manufacturing and selling x units of a certain item...
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