Question 1007613: An agency is promoting concert tickets by offering a group-discount rate. The regular price is $120 and for each ticket bought the price decreases by $1. (One ticket costs $119, two tickets costs $118 each, and so on.)
Write a formula.
f(x)=___________ (type an expression using x as the variable.)
Use f(x) to determine symbolically the number of tickets that should be sold to maximize revenue.
_____ tickets should be sold
Use f(x) to determine symbolically the maximum revenue.
The maximum revenue is $_______
Answer by lwsshak3(11628)   (Show Source):
You can put this solution on YOUR website! An agency is promoting concert tickets by offering a group-discount rate. The regular price is $120 and for each ticket bought the price decreases by $1. (One ticket costs $119, two tickets costs $118 each, and so on.)
Write a formula.
f(x)=___________ (type an expression using x as the variable.)
Use f(x) to determine symbolically the number of tickets that should be sold to maximize revenue.
_____ tickets should be sold
Use f(x) to determine symbolically the maximum revenue.
The maximum revenue i
let x=number of tickets sold
Revenue=x(120-x)=-(x^2-120x
complete the square:
-(x^2-120x+3600)+3600
(x-60)^2+3600
This is a parabola with vertex at (60,3600)
maximum revenue of 3600 occurs when the number of tickets sold=60
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