Graph the combined function y = R(p) − C(p) (please dont use desmos show full work process of graphing) b) Identify the region for which R(p) − C(p) > 0. What is the significance of this region? c) Do the maxima of y = R(p) and y = R(p) − C(p) occur for the same value of p? Explain why or why not. d) Identify the optimum ticket price for the amusement park and determine the maximum profit per ticket.
Graph the combined function y = R(p) − C(p) (please dont use desmos show full work process of graphing) b) Identify the region for which R(p) − C(p) > 0. What is the significance of this region? c) Do the maxima of y = R(p) and y = R(p) − C(p) occur for the same value of p? Explain why or why not. d) Identify the optimum ticket price for the amusement park and determine the maximum profit per ticket.
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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Question
a) Graph the combined function y = R(p) − C(p)
(please dont use desmos show full work process of graphing)
b) Identify the region for which R(p) − C(p) > 0. What is the significance of this region?
c) Do the
d) Identify the optimum ticket price for the amusement park
and determine the maximum profit per ticket.
Transcribed Image Text:4. The owner of a local amusement park needs to identify the
optimum price for admission tickets to maximize his profits. The
number, N, of people who attend the amusement park is a
function of the price, p, in dollars. N(p) = (p+5)(p 17),
assuming the minimum ticket price is $12.00. The revenue
generated, R, in dollars is R(p) = N(p) x p, where p is the number
of tickets sold. The cost, C, of running the amusement park can be
modelled by a composite function of N(p), C(p) = 75 + 12N(p)
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