The average ticket price for a concert at the opera house was $30. The average attendance was 5000. When the ticket price was raised to $33, per performance. What should the ticket price be to maximize revenue for the opera house? (Assume a linear demand ourve.) To maximize revenue, the price should be $ per ticket. (Type an integer or decimal rounded to two decimal places as needed. Simplify your answer.) endance

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In this problem, p is in dollars and q is the number of units. (a) Find the elasticity of the demand function pg = 21 at p = 3. (b) How will a price increase affect total revenue? O since the demand is elastic, an increase in price will decrease the total revenue. O since the demand is inelastic, an increase in price will decrease the total revenue. O since the demand is elastic, an increase in price will increase the total revenue. O since the demand is inelastic, an increase in price will increase the total revenue. O since the demand is unitary, there will be no change in the revenue with a price increase.

In general, in order for a price increase to cause a decrease in total revenue, demand must be