A baseball team plays in a stadium that holds 56,000 spectators. With ticket prices at $10, the average attendance had been 27,000. When ticket prices were lowered to $8, the average attendance rose to 33,000. (a) Find the demand function (price p as a function of attendance x), assuming it to be linear. p(x) = (b) How should ticket prices be set to maximize revenue? (Round your answer to the nearest cent.)

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...
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A baseball team plays in a stadium that holds 56,000 spectators. With ticket prices at $10, the average attendance had been 27,000. When ticket prices were lowered to $8, the average attendance rose to
33,000.
(a) Find the demand function (price p as a function of attendance x), assuming it to be linear.
p(x) =
(b) How should ticket prices be set to maximize revenue? (Round your answer to the nearest cent.)
$
Transcribed Image Text:A baseball team plays in a stadium that holds 56,000 spectators. With ticket prices at $10, the average attendance had been 27,000. When ticket prices were lowered to $8, the average attendance rose to 33,000. (a) Find the demand function (price p as a function of attendance x), assuming it to be linear. p(x) = (b) How should ticket prices be set to maximize revenue? (Round your answer to the nearest cent.) $
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