A baseball team plays in a stadium that holds 58000 spectators. With the ticket price at $11 the average attendance has been 22000. When the price dropped to $10, the average attendance rose to 29000. Assume that attendance is linearly related to ticket price.
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1 answer

is there a question in there somewhere?
Let x be the number of $1 price decreases. Then the attendance is
22000 + 7000x
That means the revenue is
r(x) = (11x)(22000+7000x) = 1000(7x^255x242)
dr/dx = 1000(14x55)
maximum revenue occurs at the vertex, when x = 55/14 = 3.92
That is, max revenue of $350,036 is when the price is reduced to $8.08 and the attendance is 49,300 👍
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answered by oobleck
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