3 years ago

25 POINTS!!!!!!

Mathematics

1 answer:

erik [133]3 years ago

4 0

Answer:

put it on the x,y line

Step-by-step explanation:

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The average ticket price for a concert at the opera house was $50. The average attendance was 4000. When the ticket price was ra

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Answer

given,

opera house ticket = $50

attendance = 4000 persons

now,

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assuming these are the points on the demand curve

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using point slope formula

$p-50 = \dfrac{50-52}{4000-3800}(x - 4000)$

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R(x) = x . p

$R(x) = x (\dfrac{-x}{100}+ 90)$

$R(x) = \dfrac{-x^2}{100}+ 90x)$

$\dfrac{d}{dx}(R(x)) = \dfrac{d}{dx}(\dfrac{-x^2}{100}+ 90x))$

$\dfrac{d}{dx}(R(x)) = (\dfrac{-2x}{100})+90)$

at $\dfrac{d}{dx}(R(x)) = 0$

$\dfrac{-2x}{100}= -90$

x = 4500

$\dfrac{d^2}{d^2x}(R(x)) = -ve$

hence at x =4500 the revenue is maximum

for maximum revenue ticket price will be

$p = \dfrac{-4500}{100}+ 90$

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