The Valley High School student council is planning a dance. The school has 200 students. The lowest possible ticket price is $1.00, and they estimate that for every $0.50 increase in ticket price, 25 fewer students will attend. What ticket price will maximize the student council’s profit?
The maximum revenue is $312.50 for 125 studentsWhat number of students would attend at the lowest ticket price?At the lowest ticket price of $1.00 it is likely that all the 200 students would attend because it is the most affordable pricerevenue for 200 students=$1.00*200revenue for 200 students=$200.00When ticket price increases to $1.50,there would reduction in attendance by 25 students, leaving only 175 studentsrevenue for 175 students=$1.50*175revenue for 175 students=$262.50When the ticket price increases to $2.00 from $1.50, the attendance would reduce to 150revenue for 150 students=$2.00*150revenue for 150 students=$300.00When the ticket price increases to $2.50, only 125 students would grace the eventrevenue for 125 students=$2.50*125revenue for 125 students=$312.50When the ticket price increases to $3.00, only 100 students would be in attendancerevenue for 100 students=$3.00*100revenue for 100 students=$300.00At this point, the revenue has started declining, hence, the maximum revenue is $312.50 for 125 studentsFind out more about ticket pricing on:https://brainly.com/question/28180460#SPJ1