SOLUTION: The cost of a ticket to a basketball game seating 700 fans is $3. At this price all seats are filled. The owner estimates that if the price is increased, attendance will fall by 10
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-> SOLUTION: The cost of a ticket to a basketball game seating 700 fans is $3. At this price all seats are filled. The owner estimates that if the price is increased, attendance will fall by 10
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Question 274642: The cost of a ticket to a basketball game seating 700 fans is $3. At this price all seats are filled. The owner estimates that if the price is increased, attendance will fall by 100 for every dollar increase. What ticket price results in the greatest revenue? At this price what is the maximum revenue? Answer by richwmiller(17219) (Show Source):
You can put this solution on YOUR website! 3*700=2100
(3+x)*(700-100x)
600*4=2400
500*5=2500
400*6=2400
300*7=2100
$2500 maximum revenue $5 per ticket with 500 attending
