Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A university is trying to determine what price to charge for tickets to football games. At a price of ?$ 15 15 per?ticket, attendance averages

A university is trying to determine what price to charge for tickets to football games. At a price of ?$15

15 per?ticket, attendance averages 40 comma 000

40,000 people per game. Every decrease of ?$3

3 adds 10 comma 000

10,000 people to the average number. Every person at the game spends an average of ?$3.00

3.00 on concessions. What price per ticket should be charged in order to maximize?revenue? How many people will attend at that?price?

image text in transcribed
A university is trying to determine what price to charge for tickets to football games. At a price of $15 per ticket, attendance averages 40,000 people per game. Every decrease of $3 adds 10,000 people to the average number. Every person at the game spends an average of $3.00 on concessions. What price per ticket should be charged in order to maximize revenue? How many people will attend at that price? What is the price per ticket? so

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Calculus Early Transcendentals

Authors: James Stewart

7th edition

538497904, 978-0538497909

More Books

Students also viewed these Mathematics questions