Saturday

December 20, 2014

December 20, 2014

Posted by **Anonymous** on Tuesday, February 21, 2012 at 1:42pm.

(a) Find a linear demand equation showing the number of guests q per night as a function of the cover charge p.

q(p)=

(b) Find the nightly revenue R as a function of the cover charge p.

R(p)=

(c) The club will provide two free non-alcoholic drinks for each guest, costing the club $4 per head. In addition, the nightly overheads (rent, salaries, dancers, DJ, etc.) amount to $2,000. Find the cost C as a function of the cover charge p.

C(p)=

(d) Now find the profit in terms of the cover charge p.

P(p)=

Determine the entrance fee you should charge for a maximum profit.

P=$___per guest.

What formula do I use and how should I approach this problem?

Thank you.

**Answer this Question**

**Related Questions**

math - You have just opened a new nightclub, Russ' Techno Pitstop, but are ...

Calculus - You have just opened a new nightclub, Russ' Techno Pitstop, but are ...

Calculus - You have just opened a new nightclub, Russ' Techno Pitstop, but are ...

Pre Algebra - Suppose you have an after school baby sitting service. You charge ...

Economics - Two-Part Tariff Problem Suppose that each of a firm’s customers has ...

intermidiate algebra - Best Rentals charges a daily fee plus a mileage fee for ...

Algebra - Math - The profit function for hang gliding serving p(x) = -0.4x^+fx-m...

Managerial Economics - A television station is considering the sale of ...

Managerial Economics - (Economyst Only Please): A television station is ...

math - Best Rentals charges a daily fee plus a mileage fee for renting its cars...