A cinema charges $15 per ticket for a popular movie screening. The theater has a seating capacity of 300, and on average, 200 tickets are sold for each show. For every $2 decrease in ticket price, the cinema observes an additional 50 tickets sold. What should be the ideal ticket price to maximize revenue, and how many tickets would be sold at this price?

A cinema charges $15 per ticket for a popular movie screening. The theater has a seating capacity of 300, and on average, 200 tickets are sold for each show. For every $2 decrease in ticket price, the cinema observes an additional 50 tickets sold. What should be the ideal ticket price to maximize revenue, and how many tickets would be sold at this price?

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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