1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
jarptica [38.1K]
10 months ago
15

When the admission price for a baseball game was $4 per ticket, 50,000 tickets were sold. When the price was raised to $5, only

45,000 tickets were sold. Assume that the demand function is linear and that the variable and fixed costs for the ball park owners are $0.10 and $75,000 respectively.
Mathematics
1 answer:
anygoal [31]10 months ago
5 0

The profit function is P(x) = ( - x² / 5000 ) + 13.9x - 75000.

50,000 baseball game tickets were sold at $4 per ticket.

When the price is raised to $5, then 45,000 tickets were sold.

The variable and fixed costs for the ballpark owners are $0.10 and $75,000 respectively.

Let's say x is the number of tickets sold, and P is the profit.

Then,

P = ax + b

At P = 4,

4 = (50000)a + b                                                                                  ---------(1)

At P = 5,

5 = (45000)a + b                                                                                  --------(2)

Subtracting (2) from (1),

4 - 5 = (50000)a + b - (45000)a - b

- 1 = 5000(a)

a = ( - 1/5000)

So if a = ( - 1/5000),

Then,

4 = (50000)a + b

4 = (50000)( - 1 / 5000 ) + b

4 = -10 + b

b = 14

Therefore,

p(x) = ( - x /5000) + 14

Now, the profit function is:

Profit = Revenue - Costs

P(x) = R(x) - C(x)

Now, R(x) =  xp(x)

R(x) = x[ ( - x/5000) + 14]

R(x) = ( - x² / 5000 ) + 14x

The fixed cost is F(x) = $75000

Hence, the costs will be:

C(x) = 75000 + (0.10)x

Therefore the profit function is:

P(x) = R(x) - C(x)

P(x) = ( - x² / 5000 ) + 14x - 75000 - (0.10)x

P(x) = ( - x² / 5000 ) + 13.9x - 75000

Learn more about profit function here:

brainly.com/question/21497949

#SPJ9

The complete question is mentioned below:

When the admission price for a baseball game was $4 per ticket, 50,000 tickets were sold. When the price was raised to $5, only 45,000 tickets were sold. Assume that the demand function is linear and that the variable and fixed costs for the ballpark owners are $0.10 and $75,000 respectively.

Find the profit P as a function of x, the number of tickets sold

You might be interested in
HELP PLEASE! I DONT GET THIS AND ITS ALSO DUE TOMORROW!!!
ella [17]
:(( I’m not sure on this one I’m sorry
5 0
2 years ago
Read 2 more answers
What is the slope of the line y= -8
Genrish500 [490]
No slope

If you were to graph it the line would be straight across with no rise
7 0
3 years ago
Read 2 more answers
When r=4, what is the value of (9-r)2
fenix001 [56]
The answer is 10.....Hope it helps..
6 0
3 years ago
Whats 6.2 as a fraction in simplest form
Anton [14]
31/50 is the correct answer. It began at 62/100 but you must reduce
4 0
3 years ago
Read 2 more answers
What’s is the answer for 9-(-3)
grigory [225]

Answer:

negative times A negative is a positive so your answer is 27

Step-by-step explanation:

6 0
3 years ago
Read 2 more answers
Other questions:
  • Tessie has a volleyball game at 6:45 p.m. she needs to be there 15 minutes early to warm up for the game and it takes her 40 min
    6·1 answer
  • in the united states, 73% of people wear a seat belt while driving. if two people are chosen at random, what is the probability
    9·2 answers
  • Mario travels 180 miles in 2.5 hours if Mario travels at the same re how for can Mario travel in 10 hours
    10·1 answer
  • Marcia claims that the GCF for (2x2 + 4xy + 8xy4) is 8x2y4.
    15·1 answer
  • What is 5.4 x 2 3/4 show your work
    12·2 answers
  • A circle with a radius of 4 in. is dilated by a scale factor of 1/2
    10·2 answers
  • HELP HELP HELP I NEED HELP
    14·2 answers
  • What is the smallest positive degree angle measure equivalent to sin^-1 (0.391)?
    12·2 answers
  • What number should go in the space?<br> Multiplying by 1.45 is the same as increasing by _____%.
    14·2 answers
  • I really need help so please be right .Write the radical in simplest radical form and you must show all steps please. √(5/8)
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!