Answer:
$15.625
Step-by-step explanation:
Let the revenue collected be R and price per spectator be p then the number of spectators be N. Therefore
R=Np
Using equation of slope of y=mx +c where m is gradient and c is y-intercept
When p=$11, N=27000 and when p=$8, N=31000
The gradient, m will be

To get the y-intercept
N=-1333.33p+c
When spectator number n is 27000, the price p is $11
27000=-1333.33(11)+c hence we solve c
c=27000+(11*1333.33)= 41666.67
Therefore, the linear equation is
N=-1333.33p+ 41666.67
Substituting the linear equation into R=Np we obtain
R=p(-1333.33p+41666.67)
To obtain maximum revenue, we differentiate the above with respect to price hence obtain
0=2*-1333.33p+41666.67

Therefore, the price that maximizes revenue is $15.625
When handling problems of this nature make sure you setup the equations.
x = number of times they rent a boat.
Members
Cost = 105 + 9.50x
Non members because members don't have to pay the 105 we leave it out.
Cost = 14.75x
so now to determin when cost would be equal we set the two equations = to each other
105 + 9.50x = 14.75x
now solve for x
105 = 5.25x
20 = x
so they would have to rent 20 times to equal each other.
Step-by-step explanation:


taking common


Answer:
21/50 or 21:50
Step-by-step explanation:
1km = 1000m
That means one meter is equal to 1/1000 of a km.
420 meters is 420/1000 of a km which is equal to 42/100 = 21/50 or 21:50
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