Wednesday

March 4, 2015

March 4, 2015

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.

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