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Answer to Question #26400 in Abstract Algebra for Sid
Question #26400
A baseball team plays in he stadium that holds 48000 spectators. With the ticket price at 11 the average attendence has been 20000. When the price dropped to 8, the averege attendence rose to 24000.
a) Find the demand function p(x), where x is the number of the spectators. (assume p(x) is linear) p(x)=
b) How should be set a ticket price to maximize revenue?
a) Find the demand function p(x), where x is the number of the spectators. (assume p(x) is linear) p(x)=
b) How should be set a ticket price to maximize revenue?
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