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An average of 20, 000 people visit Riverside Park each day in the summer. The park charges $12.00 for admission. Consultants predict that for each
An average of 20, 000 people visit Riverside Park each day in the summer. The park charges $12.00 for admission. Consultants predict that for each $1.00 increase in the entrance price, the park would lose an average of3, 500 customers per day. (a) Express the daily revenue from ticket sales, R as a function of the number of $1.00 price increases, :13. R=f($)= (b) What ticket price maximizes the revenue from ticket sales? $5 (round to nearest cent)
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