SOLUTION: You have just opened a new nightclub, Russ' Techno Pitstop, but are unsure of how high to set the cover charge (entrance fee). One week you charged $7 per guest and averaged 345 gu
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Question 1164711: You have just opened a new nightclub, Russ' Techno Pitstop, but are unsure of how high to set the cover charge (entrance fee). One week you charged $7 per guest and averaged 345 guests per night. The next week you charged $10 per guest and averaged 300 guests per night.
(a) Find a linear demand equation showing the number of guests q per night as a function of the cover charge p.
q(p) =
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!
You are given two data points where the demand value (q) is a function of the price (p), namely )
and )
Use the Two-Point Form:
)
Where )
and )
are the given points.
John
My calculator said it, I believe it, that settles it
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