What is the volume of the rectangular prism? Type the answer in the boxes below.
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We can write that as a function:
where is the number of price reductions. We can see that it is a quadratic function which has the biggest value at P = (p, q). It means that p is the number of reductions which results in the biggest profit.
It means that it's the best to make 2 price reductions for the company. The tickets should be sold for $200 - 2 * $20 = $160. It results in 2 * 50 more tickets sold which is 300 + 100 = 400.
Answer:
Ticket price: $160
Number of tickets: 400