5) Maximizing Revenue You are the marketing manager for LTCC Ski Area, from the previous experience, you know you can sell 3000 lift tickets per year at a price of $40. You estimate that for each $5 price increase you will sell 250 lift tickets less per year. Use your calculus skill, you will make a decision: a) what price should you charge and the number of lift tickets sold to maximize revenue, b) What's the maximum revenue per year?

5) Maximizing Revenue You are the marketing manager for LTCC Ski Area, from the previous experience, you know you can sell 3000 lift tickets per year at a price of $40. You estimate that for each $5 price increase you will sell 250 lift tickets less per year. Use your calculus skill, you will make a decision: a) what price should you charge and the number of lift tickets sold to maximize revenue, b) What's the maximum revenue per year?

Calculus: Early Transcendentals

8th Edition

ISBN:9781285741550

Author:James Stewart

Publisher:James Stewart

Chapter1: Functions And Models

Section: Chapter Questions

Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...

See similar textbooks

Similar questions

Oceanside bike rental shop charger 9 dollars plus 8 dollars an hour for renting a bike. Stephen paid 41 dollars to rent a bike. Create an equation to represent this situation.
Elena biked x miles, and Noah biked more than that. Problem 10 Write an equation for each situation using a decimal. *Draw a tape diagram to help you reason if needed.
Sara is 5 years younger than Geoff. What is an equation that relates the age of Sara S and the age of Geoff G?
You fill a box with 6 more apples than pears. Create an equation that represents the number of fruit inside the box. First label the unknowns: Let a be the number of apples in the box. Let p be the number of pears.
Printer A can print Helen's class project in 18 minutes. Printer B can print the project in 30 minutes. If the two printers work together, how long would they take to print out the project?
use the graph to solve the equation