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klio [65]
3 years ago
9

Studies have shown that 400 people attend a high school basketball game when the admission price is

Mathematics
2 answers:
Katen [24]3 years ago
7 0

Step-by-step explanation:

A $320 ticket price will the revenue be maximized

Talja [164]3 years ago
6 0

Answer:

Let x=number of $0.25 increases, so the equation for revenue=price*number of tickets or people) becomes

Revenue=($3.00+$0.25x)(400-20x)

where ($3.00+$0.25x) :increase in price

and

(400-10x) : decrease in number of people

Expanding Revenue

Revenue[R]=1200-60x+100x-5x²:1200+40x-5x²

Taking the derivative of R and set it equal to 0:

R'=0+40-10x=40-10x

we have

R'=0

40-10x=0

x=40/10

x=4

So the ticket price is $3.00+$0.25*4=$4

The number of people will attend is 400-20*4=$320

<u>At </u><u>$</u><u>3</u><u>2</u><u>0</u><u> ticket price will the revenue be maximized</u><u>.</u><u />

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