The average ticket price for a concert at the opera house was $25. The average attendance was 4500. Whenthe ticket price was raised to $28, attendance declined to an average of 4200 persons per performance. Whatshould the ticket price be to maximize revenue for the opera house? (Assume a linear demand curve.)...To maximize revenue, the price should be $ per ticket.(Type an integer or decimal rounded to two decimal places as needed. Simplify your answer.)

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Answered: The average ticket price for a concert…

Elementary Geometry For College Students, 7e

7th Edition

ISBN:9781337614085

Author:Alexander, Daniel C.; Koeberlein, Geralyn M.

Publisher:Alexander, Daniel C.; Koeberlein, Geralyn M.

Chapter8: Areas Of Polygons And Circles

Section8.5: More Area Relationships In The Circle

Problem 30E: At the Pizza Dude restaurant, a 12-in. pizza costs 5.40 to make, and the manager wants to make at...

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The average ticket price for a concert at the opera house was $25. The average attendance was 5000. When the ticket price was raised to $29, attendance declined to an average of 4600 persons per performance. What should the ticket price be to maximize revenue for the opera house? (Assume a linear demand curve.) To maximize revenue, the price should be $ per ticket. (Type an integer or decimal rounded to two decimal places as needed. Simplify your answer.) ents cess
The average ticket price for a concert at the opera house was $25. The average attendance was 2000. When the ticket price was raised to $29, attendance declined to an average of 1600 persons per performance. What should the ticket price be to maximize revenue for the opera house? (Assume a linear demand curve) COLEC To maximize revenue, the price should be 5 per ticket (Type an integer or decimal rounded to two decimal places as needed. Simplify your answer.)
A local sandwich store has a fixed weekly cost of $570.00, and variable costs for making a roast beef sandwich are $0.45. Complete parts (a) through (c). a. Let x represent the number of roast beef sandwiches made and sold each week. Write the weekly cost function, C, for the local sandwich store. (Hint The cost function is the sum of fixed and variable costs.) (Use integers or decimals for any numbers in the expression.) C(x)= b. The function R(x) = -0.001x +3x describes the money that the local sandwich store takes in each week from the sale of x roast beef sandwiches. Use this revenue function and the cost function from part (a) to write the store's weekly profit function, P. (Hint The profit function is the difference between revenue and cost functions.) P)= (Simplify your answer. Use integers or decimals for any numbers in the expression.) C. Use the store's profit function to determine the number of roast beef sandwiches it should make and sell each week to maximize profit. What…

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