SOLUTION: If tickets are sold 75$ each then 1800 tickets will be sold for each 1$ increase in tickets price 20 fewer tickets are sold what should be the price of each ticket to max revenue a
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Question 1008041: If tickets are sold 75$ each then 1800 tickets will be sold for each 1$ increase in tickets price 20 fewer tickets are sold what should be the price of each ticket to max revenue and what will it be
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
Let = the number of $1 increases
in ticket price
Let = revenue from sales of tickets
-----------------------------------
-----------------------------
This is a parabola with a peak ( like an upside-down bowl )
The maximum is at where:
------------
Either $7 or $8 added to ticket price maximizes revenue,so
Ticket price should be $82 or $83
-----------------------------
check the answer:
-----------------
Let
---------------
I get the same revenue on both sides of
the peak, so must give me
maximum . You can't have 1/2 of a ticket,
so I have to choose or
-----------
Hope I got it- you should get a 2nd opinion
on this one
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