Mathematics, 29.07.2021 01:00 melG101
A baseball team plays in a stadium that holds 58000 spectators. With the ticket price at $12 the average attendance has been 25000. When the price dropped to $9, the average attendance rose to 29000. Assume that attendance is linearly related to ticket price.
Required:
a. Find the demand function p(x), where x is the number of the spectators.
b. How should ticket prices be set to maximize revenue?
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