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When the admission price for a baseball game was $18 per ticket, 36,000 tickets were sold. When the price was raised to $21, only 32,000 tickets were sold. Assume that the demand function is linear and that the marginal and fixed costs for the ballpark owners are $3 and $700,000, respectively (a) Find the profit Pas a function of x, the number of tickets sold. P= (b) Use a graphing utility to graph P, and comment about the slopes of P when x = 18,000, x = 28,000, and x = 40,000. At x = 18,000, the slope of P is -Select-V At x= 28,000, the slope of P is -Select--v. At x= 40,000, the slope of Pis --Select-V (c) Find the marginal profits, in dollars per ticket, when 18,000 tickets are sold, when 28,000 tickets are sold, and when 40,000 tickets are sold. P(18,000) - $ P'(28,000) - $ P(40,000) - $ per ticket per ticket

When the admission price for a baseball game was $18 per ticket, 36,000 tickets were sold. When the price was raised to $21, only 32,000 tickets were sold. Assume that the demand function is linear and that the marginal and fixed costs for the ballpark owners are $3 and $700,000, respectively (a) Find the profit Pas a function of x, the number of tickets sold. P= (b) Use a graphing utility to graph P, and comment about the slopes of P when x = 18,000, x = 28,000, and x = 40,000. At x = 18,000, the slope of P is -Select-V At x= 28,000, the slope of P is -Select--v. At x= 40,000, the slope of Pis --Select-V (c) Find the marginal profits, in dollars per ticket, when 18,000 tickets are sold, when 28,000 tickets are sold, and when 40,000 tickets are sold. P(18,000) - $ P'(28,000) - $ P(40,000) - $ per ticket per 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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When the admission price for a baseball game was $18 per ticket, 36,000 tickets were sold. When the price was raised to $21, only 32,000 tickets were sold. Assume that the demand function is linear and that the marginal and fixed costs for the ballpark owners are $3 and $700,000, respectively.

When the admission price for a baseball game was $18 per ticket, 36,000 tickets were sold. When the price was raised to $21, only 32,000 tickets were sold. Assume that the demand function is linear and that the marginal and fixed costs for the ballpark owners are $3 and $700,000, respectively. (a) Find the profit P as a function of x, the number of tickets sold. P = (b) Use a graphing utility to graph P, and comment about the slopes of P when x = 18,000, x = 28,000, and x = 40,000. At x = 18,000, the slope of P is --Select-- v At x = 28,000, the slope of P is -Select---V At x = 40,000, the slope of P is -Select--v (c) Find the marginal profits, in dollars per ticket, when 18,000 tickets are sold, when 28,000 tickets are sold, and when 40,000 tickets are sold. P'(18,000) = $| P'(28,000) = $ per ticket per ticket P'(40,000) = $ per ticket
Transcribed Image Text:When the admission price for a baseball game was $18 per ticket, 36,000 tickets were sold. When the price was raised to $21, only 32,000 tickets were sold. Assume that the demand function is linear and that the marginal and fixed costs for the ballpark owners are $3 and $700,000, respectively. (a) Find the profit P as a function of x, the number of tickets sold. P = (b) Use a graphing utility to graph P, and comment about the slopes of P when x = 18,000, x = 28,000, and x = 40,000. At x = 18,000, the slope of P is --Select-- v At x = 28,000, the slope of P is -Select---V At x = 40,000, the slope of P is -Select--v (c) Find the marginal profits, in dollars per ticket, when 18,000 tickets are sold, when 28,000 tickets are sold, and when 40,000 tickets are sold. P'(18,000) = $| P'(28,000) = $ per ticket per ticket P'(40,000) = $ per ticket
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