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Maximum Revenue When a management training company prices its seminar on management techniques at $400 per person, 1,000 people will attend the seminar. The company estimates that for each $5 reduction in price, an additional 20 people will attend the seminar. Let x represent the number of $5 reductions. Use this information to answer questions 1-8 below. Use the Maximum Revenue information above to answer this question. • 400 – 5æ [Select] [Select] • 1000+20x revenue number of seminar tickets sold price per seminar ticket

Maximum Revenue When a management training company prices its seminar on management techniques at $400 per person, 1,000 people will attend the seminar. The company estimates that for each $5 reduction in price, an additional 20 people will attend the seminar. Let x represent the number of $5 reductions. Use this information to answer questions 1-8 below. Use the Maximum Revenue information above to answer this question. • 400 – 5æ [Select] [Select] • 1000+20x revenue number of seminar tickets sold price per seminar ticket

Calculus: Early Transcendentals
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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2) We need to maximize ▭, which is the price per seminar ticket times the number of seminar tickets sold.

3) Since price cannot be negative, we have x ≤___________

4) A negative value of x would result in a price increase. 

Since the problem is stated in terms of price reductions, we must restrict x so that x ≥ _____.

 
Maximum Revenue When a management training company prices its seminar on management techniques at $400 per person, 1,000 people will attend the seminar. The company estimates that for each $5 reduction in price, an additional 20 people will attend the seminar. Let x represent the number of $5 reductions. Use this information to answer questions 1-8 below.
Transcribed Image Text:Maximum Revenue When a management training company prices its seminar on management techniques at $400 per person, 1,000 people will attend the seminar. The company estimates that for each $5 reduction in price, an additional 20 people will attend the seminar. Let x represent the number of $5 reductions. Use this information to answer questions 1-8 below.
Use the Maximum Revenue information above to answer this question. • 400 – 5æ [Select] [Select] • 1000+20x revenue number of seminar tickets sold price per seminar ticket
Transcribed Image Text:Use the Maximum Revenue information above to answer this question. • 400 – 5æ [Select] [Select] • 1000+20x revenue number of seminar tickets sold price per seminar ticket
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