Question

Last year 300 people attended a play with ticket price of $8. The school estimates that 20 fewer people attend for each $1 increase in price. What ticket price would give the greatest income?

Answer 1

Answer:

$12

Step-by-step explanation:

If we stuck with the price of $8, then we end with an income of $2400

Increasing it by $1 will decrease attendance by 20

8 x 300 = 2400

9 x 280 = 2520

10 x 260 = 2600

11 x 240 = 2640

12 x 220 = 2640

13 x 200 = 2600

We're starting to go down, so let's stop there

The ticket price of $11 or $12 appears to give the most income

I would stick with $12 since your still getting more money from one ticket