A professional basketball team plays in an arena that holds 20000 spectators. Average 2) attendance at each game has been 14000. The average ticket price is $75. Market research shows that for each $5 reduction in ticket price, attendance increases by 800. Find the price that will maximize revenue and state the max revenue
A professional basketball team plays in an arena that holds 20000 spectators. Average 2) attendance at each game has been 14000. The average ticket price is $75. Market research shows that for each $5 reduction in ticket price, attendance increases by 800. Find the price that will maximize revenue and state the max revenue
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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Transcribed Image Text:A professional basketball team plays in an arena that holds 20000 spectators. Average
2)
attendance at each game has been 14000. The average ticket price is $75. Market research shows that
for each $5 reduction in ticket price, attendance increases by 800. Find the price that will maximize
revenue and state the max revenue
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