An amusement park charges $10 for admission. On average, 25,000 people visit the park each day Suppose that for each $1 increase in the entrance price, the park loses 100 daily customers a) Complete the table to explore the relationship between price and revenue numerically b) Generalize the numerical pattern in the table to write a formulas for the number of patrons as a function of price and the revenue as a function of price. c) What price should be charged to produce the maximum revenue? What is the maximum revenue? What number of patrons will visit the park? a) Complete the table. Attendance, N(p) Admission Revenue R(p) price, p $10 $11 $12 $4
An amusement park charges $10 for admission. On average, 25,000 people visit the park each day Suppose that for each $1 increase in the entrance price, the park loses 100 daily customers a) Complete the table to explore the relationship between price and revenue numerically b) Generalize the numerical pattern in the table to write a formulas for the number of patrons as a function of price and the revenue as a function of price. c) What price should be charged to produce the maximum revenue? What is the maximum revenue? What number of patrons will visit the park? a) Complete the table. Attendance, N(p) Admission Revenue R(p) price, p $10 $11 $12 $4
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter2: Equations, Inequalities, And Problem Solving
Section2.3: Equations Involving Decimals And Problem Solving
Problem 51PS
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