The owner of a skating rink rents the rink for parties at $1200 if 60 or fewer skaters attend, so that the cost per person is $20 if 60 attend. For each 5 skaters above 60, she reduces the price per skater by $0.50. (a) Construct a table that gives the revenue generated if 60, 70, and 80 skaters attend. No. of skaters Price per Total Revenue Skater 60 70 80 $ $ $ (b) Does the owner's revenue from the rental of the rink increase or decrease as the number of skaters increases from 60 to 80? The revenue increases. The revenue decreases. (c) Write the equation that describes the revenue for parties with x groups of five skaters more than 60 skaters. R(x) =

The owner of a skating rink rents the rink for parties at $1200 if 60 or fewer skaters attend, so that the cost per person is $20 if 60 attend. For each 5 skaters above 60, she reduces the price per skater by $0.50. (a) Construct a table that gives the revenue generated if 60, 70, and 80 skaters attend. No. of skaters Price per Total Revenue Skater 60 70 80 $ $ $ (b) Does the owner's revenue from the rental of the rink increase or decrease as the number of skaters increases from 60 to 80? The revenue increases. The revenue decreases. (c) Write the equation that describes the revenue for parties with x groups of five skaters more than 60 skaters. R(x) =

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

The owner of a skating rink rents the rink for parties at $1200 if 60 or fewer skaters attend, so that the cost per person is $20 if 60 attend. For each 5 skaters above 60, she reduces the price per skater by $0.50.
(a) Construct a table that gives the revenue generated if 60, 70, and 80 skaters attend.
No. of skaters
Total Revenue
60
70
80
Price per
Skater
$
$
$
(b) Does the owner's revenue from the rental of the rink increase or decrease as the number of skaters increases from 60 to 80?
O The revenue increases.
O The revenue decreases.
(c) Write the equation that describes the revenue for parties with x groups of five skaters more than 60 skaters.
R(x) =
(d) Find the number of skaters that will maximize the revenue.
skaters
(e) Find the maximum revenue.
$
(f) When the revenue is at the maximum possible, what price is paid per skater?
$

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