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

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

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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