When a management training company prices its seminar on management techniques at $400 per person, 1,000 people will attend the seminar. The company estimates that for each $5 reduction in price, an additional 20 people will attend the seminar.
Let x represent the number of $5 reductions.
Use this information to answer questions 1-4 below.
1) Since R(x) is continuous, we can determine the absolute maximum by evaluating R(x) at the endpoints and the critical number.
After doing so, we see the maximum revenue occurs when x =________price reductions.
2) The maximum revenue is $______________. Round to the nearest cent.
3)The price of a seminar ticket is that yields the maximum revenue is $ per seminar ticket. Round to the nearest dollar.
4)
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