When a baseball park owner charges $3.00 for admission, there is an average attendance of 100 people. For every $0.10 increase in the admiss

Question

When a baseball park owner charges $3.00 for admission, there is an average attendance of 100 people. For every $0.10 increase in the admission price, there is a loss of 2 customers from the average number.
1. What admission price should be charged in order to maximize revenue?2. What is the maximum revenue?

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Nick 4 years 2021-08-19T14:44:33+00:00 1 Answers 11 views 0

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  1. Euphemia
    0
    2021-08-19T14:46:00+00:00
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    Answer:

    $1

    max rev = 80(4) = $320

    Step-by-step explanation:

    let us do this in pennies  

    R = (100 – x/5)(300 + x)

    d/dr = -2x – 200

                   5

    (-2x-200)/5 = 0  

    -2x = 200

    x = 100

               

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