1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Marrrta [24]
2 years ago
10

A university is trying to determine what price to charge for tickets to football games. At a price of ​$ per​ ticket, attendance

averages people per game. Every decrease of ​$ adds people to the average number. Every person at the game spends an average of ​$ on concessions. What price per ticket should be charged in order to maximize​ revenue? How many people will attend at that​ price?
Mathematics
1 answer:
Anika [276]2 years ago
8 0

This question is incomplete, the complete question is;

A university is trying to determine what price to charge for tickets to football games. At a price of ​$24 per​ ticket, attendance averages 40,000 people per game. Every decrease of ​$4 adds 10,000 people to the average number. Every person at the game spends an average of ​$4 on concessions. What price per ticket should be charged in order to maximize​ revenue? How many people will attend at that​ price?

Answer:

a) price per ticket = $18

b) 55,000 will attend at that price

Step-by-step explanation:

Given that;

price of ticket = $24

so cost of ticket = 24 - x

every decrease of $4 adds 10,000 people

for $1 adds 2,500 people

Total people = 40000 + 2500x

Revenue function = people × cost + people × 4

so

R(x) = (40000 + 2500x)(24 - x) + (40000 + 2500x)4

R(x) = 960,000 - 40000x + 60000x - 2500x² + 160,000 + 10000x

R(x) = 1120000 + 30000x - 2500x²

R(x) = -2500x² + 30000x + 1120000

now for maximum revenue; R'(x) is to zero

so

R'(x) = d/dx(  -2500x² + 30000x + 1120000 ) = 0

⇒ -5000x + 30000 + 0 = 0

⇒ -5000x + 30000 = 0

⇒ 5000x = 30000

x = 30000 / 5000

x = 6

R'(X) = -5000 < 0 ⇒ MAXIMUM

∴ Revenue is maximum at x = 6

so cost of ticket ;

price per ticket = (24 - x) = 24 - 6 = $18

so price per ticket = $18

Number of people = 40000 + 2500x

= 40000 + (2500 × 6)

= 40000 + 15,000

= 55,000

Therefore, 55,000 will attend at that price

You might be interested in
You have 6L of water that has 20 percent strawberry juice. How many litres of an 80 percent strawberry juice should be added to
Kaylis [27]

Answer:

you are right

Step-by-step explanation:

7 0
2 years ago
Pairs that satisfy function y=2x+1
evablogger [386]

Test a pair from each table by substituting their values into the given equation and solving.

A) y = 2x + 1 .......... 2 = 2(0) + 1 .......... 2 ≠ 1

B) y = 2x + 1 .......... 1 = 2(0) + 1 .......... 1 = 1

C) y = 2x + 1 .......... -1 = 2(0) + 1 .......... -1 ≠ 1

D) y = 2x + 1 .......... -2 = 2(0) + 1 .......... -2 ≠ 1


The only pair that satisfied the equation was from answer choice B. Therefore, B is the correct answer.

8 0
3 years ago
Use the information and diagram to answer the following question.
nevsk [136]

Answer:

910 ft

Step-by-step explanation:

This question sets up the equation tan20°=x/2,500. Solve for X by multiplying 2,500 on both sides giving you x = 2,500tan20°. Finally, plug that in a calculator and you get 909.92. Round it to the nearest foot and you get 910

5 0
3 years ago
How much does Beatriz earn per hour?<br><br> How much would Beatriz earn if she worked 7 hours?
Alexxx [7]

Answer:

$52.50

Step-by-step explanation:

She makes $7.50 an hour multiple that by 7 hours and you get $52.50

4 0
3 years ago
Kaylynn read 380 pages of her book last week. She read the same number of pages each day for 5 days.How many pages did Kaylynn r
dmitriy555 [2]

Answer:

She read 76 pages each day

Step-by-step explanation:

380/5=76

8 0
3 years ago
Read 2 more answers
Other questions:
  • Which of the following numbers is between -3/4 and 5/8?<br> a.-1<br> b.-1/2<br> c.7/8<br> d.0.9
    14·2 answers
  • Solve the equation 8x-12=5+15
    14·2 answers
  • Question in image. Thanks!
    10·1 answer
  • Solve the equation.
    10·1 answer
  • What is the vertex if the graph
    12·2 answers
  • What is the steps to this problem<br> 5X-X=28
    11·2 answers
  • Find the value of x. Round the length to the nearest tenth. The diagram is not drawn to scale.
    13·1 answer
  • Identify the independent variable and dependent variable in the situation:
    11·1 answer
  • Describe the type of correlation
    8·2 answers
  • Select all the equations
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!