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A baseball team plays in a stadium that holds 65,000 spectators. With ticket prices at $100, the attendance had been 25,000. When the ticket prices
A baseball team plays in a stadium that holds 65,000 spectators. With ticket prices at $100, the attendance had been 25,000. When the ticket prices were lowered to $90, the attendance increased to 35,000.
(a) Find the demand function assuming that it is linear.
Demand Function =
(b) How should the prices be set to maximize revenue?
Ticket Price =
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