SOLUTION: The parent council plans to run an annual student talent show to raise money for new drama equipment. Last year, tickets sold for $11 each and 400 people attended. In order to ra
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Question 1171901: The parent council plans to run an annual student talent show to raise money for new drama equipment. Last year, tickets sold for $11 each and 400 people attended. In order to raise more money, the council determined that for every dollar increase in price, attendance would drop by 20 people. What ticket price would maximize revenue and what is the maximum revenue?
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
x=each $1 and each 20 people
(11+x)(400-20x) product
find the maximum
-20x^2+180x+4400
maximum is where x=-b/2a, the vertex. That is -180/-40 or 4.5
$15.50 price and have 310 people (4.5*-20)
=$4805
always check on both sides
$16 and 300 people $4800
$15 and 320 people $4800
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