Discrete Mathematics

posted by .

When a theater charges \$50 per ticket, a sold-out crowd of 600 will buy tickets. For every \$5 increase in ticket price, 6 fewer people buy tickets. What ticket price would maximize the theater’s revenue? (Recall that revenue = price • quantity).

• Discrete Mathematics -

r = price * quantity
= p(600-((p-50)/5)*6)
= 660p - 6/5 p^2

max r at p = 275

• Discrete Mathematics -

hjh

Similar Questions

1. Economics

Suppose that a movie theater owner faces the demand curve given by P=10-.001Q where P is the price of a ticket in dollars and Q is the number of tickets sold per week. Suppose that all the cost associated with the theater other than …
2. algebra

Q 2: If the ticket agency charges ‘p’ dollars per ticket for a concert, it can sell maximum of (40000 – p) tickets. Find: a. A polynomial to represent the total revenue with a ticket price as p dollars. b. How many tickets will …

For an outdoor concert, a ticket price of \$30 typically attracts 5000 people. For each \$1 increase in the ticket price, 100 fewer people will attend. The revenue, R, is the product of the number of people attending and the price per …
4. Calculus

A movie theater wants to determine the price per ticket that should be charged in order to maximize its revenue. The theater can accommodate 2000 movie goers per night, but the average attendance is about 1400 people per night. The …
5. Math

A movie theater sold a total of 390 adult and child tickets on a certain day. The theater sold 2.25 times as many adult tickets as child tickets. Each adult ticket cost \$8 and each child ticket cost \$3. How much revenue did the theater …
6. Calculus Help!

At a price of \$7.5 per ticket, a musical theater group can fill every seat in their 1500 seat performance hall. For every additional dollar charged for admission, the number of tickets sold drops by 95. a) What ticket price maximizes …
7. Math

A theater seats 200 people and charges \$10 for a ticket. At this price, all the tickets can be sold. A survey indicates that if the ticket price is increased by a peso, the number of tickets sold will decrease by 10. What price will …
8. math (urgent)

A basketball or some stadium holds 20000 people. On average 140000 come to see the match. Average ticket price is \$75. market research shows that if ticket price is decreased by \$5 800 more people buy tickets. Find the price that will …
9. Math/ASU

A movie theater sold a total of 520 adult and child tickets on a certain day. The theater sold 2.25 times as many adult tickets as child tickets. Each adult ticket cost \$9 and each child ticket cost \$2. How much revenue did the theater …
10. Algebra

if tickets are sold for \$50, then 600 tickets are expected to be sold. For each \$1 reduction in price, an additional 20 tickets will be sold. Write an equation that gives revenue R from ticket sales when the ticket prices are reduced …

More Similar Questions