SOLUTION: A group on tour has been drawing crowds of 500 people. It is projected that for every $1 increase in the $12 ticket price the average attendance will decrease by 50. At what price
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Question 228681: A group on tour has been drawing crowds of 500 people. It is projected that for every $1 increase in the $12 ticket price the average attendance will decrease by 50. At what price will the nightly receipts be $5600.
Answer by user_dude2008(1862) (Show Source): You can put this solution on YOUR website!
x = # of price increases
revenue = price * number of people
R = (12+x)(500-50x)
R = -50 x^2-100x+6000
5600 = -50 x^2-100x+6000
0 = -50 x^2-100x+400
0 = -50(x^2+2x-8)
0 = -50(x-2)(x+4)
x = 2 or x = -4
Answer: price will be 12+2=$14
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