Question

Last year, 350 people come to see a spring concert at REL. The cost per ticket was $5.00. The orchestra committee wants to increase ticket prices but it is estimated that for each increase in $0.25, 10 fewer people will attend the concert. What should the committee set the ticket price to maximize ticket sales.

Answer 1

Let 0.25x is the price increase. Therefore, the number of attendees will be 350-10x and the revenue R=(350-10x)*(5+0.25x)=1750+37.5x-2.5x^2. This parabola has maximum at x=10, meaning the price=7.5

Answer 2

Answer:

max: 10   price: 7.5

Step-by-step explanation: