SOLUTION: A theme park sells tickets at $22 per ticket. Currently they have 1480 people attend per day. They estimate that for every dollar they increase the price, they will have 20 less pe
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Question 1035891: A theme park sells tickets at $22 per ticket. Currently they have 1480 people attend per day. They estimate that for every dollar they increase the price, they will have 20 less people. What price would give the maximum revenue, and what would this revenue be? Found 2 solutions by stanbon, josmiceli:Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! A theme park sells tickets at $22 per ticket. Currently they have 1480 people attend per day. They estimate for every dollar they increase the price, they will have 20 less people. What price would give the maximum revenue, and what would this revenue be?
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Revenue = (price per unit)(# of units sold)
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R(x) = (22+x)(1480-20x)
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Procedure:
Find R'(x) and solve R'(x) = 0
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Cheers,
Stan H.
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You can put this solution on YOUR website! Let = the number of $1 increases in ticket price
Let = revenue from tickets
The plot is a parabola with a maximum.
The -value of the maximum ios at: when the form is:
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$48 / ticket gives maximum revenue
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The maximum revenue is $46,080
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Here's the plot of revenue, , and the
number of $1 increases in ticket price,
(