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5. (WORD PROBLEM) On Friday, the local cinema sells 200 tickets at $6 each. The manager estimates that for each $0.50 increase in ticket price, 10 fewer tickets will be sold. What price should the manager charge per ticket in order to maximize the revenue? Let x represent the number of $2 increases

5. (WORD PROBLEM) On Friday, the local cinema sells 200 tickets at $6 each. The manager estimates that for each $0.50 increase in ticket price, 10 fewer tickets will be sold. What price should the manager charge per ticket in order to maximize the revenue? Let x represent the number of $2 increases

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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5. (WORD PROBLEM) On Friday, the local cinema sells 200 tickets at $6 each. The manager estimates that for each $0.50 increase in ticket price, 10 fewer tickets will be sold. What price should the manager charge per ticket in order to maximize the revenue? Let x represent the number of $2 increases. Step 1: Write a factored expression (( ) to help you solve for x. Step 2: Multiply the ( )( ) to create a quadratic expression then find the optimal value of x by calculating the peak of the quadratic expression. Step 3: Use the value of x and one of your () to solve the problem.
Transcribed Image Text:5. (WORD PROBLEM) On Friday, the local cinema sells 200 tickets at $6 each. The manager estimates that for each $0.50 increase in ticket price, 10 fewer tickets will be sold. What price should the manager charge per ticket in order to maximize the revenue? Let x represent the number of $2 increases. Step 1: Write a factored expression (( ) to help you solve for x. Step 2: Multiply the ( )( ) to create a quadratic expression then find the optimal value of x by calculating the peak of the quadratic expression. Step 3: Use the value of x and one of your () to solve the problem.
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