Question

A baseball team plays in he stadium that holds 52000 spectators. With the ticket price at 12 the average attendance has been 19000. When the price dropped to 9, the average attendance rose to 26000.
a) Find the demand function p(x), where x is the number of the spectators. (assume p(x) is linear) p(x)=
b) What ticket price would maximize revenue?

I tried to find the slope using the two points and devise an equation from that but that approach does not seem to have gotten me very far

Answer 1

actually ur approach is right
after finding the equation u differentiate it and find for which value of x the y is maximum

Answer 2

sorry here u should find the maximum value of xy

Answer 3

i managed to figure out my equation. How do I determine the ticket price that would maximize revenue?

Answer 4

@darkmare just wait i'll tell u

Answer 5

can u tell me the equation u got???

Answer 6

(-3/7000)x+(141/7)

Answer 7

take ticket charge on x-axis and attandence of spectators on y-axis,and scale on y-axis is 1unit=1000spectators
then,the points are (12,19) and (9,26)
now find theequation of line using these two points
the equation is 7x+3y = 141

Answer 8

@darkmare

Answer 9

so how does that show the ticket price that would maximize revenue?

Answer 10

sorry my system has been strucked while giving u the solution u should wait for another 2 min

Answer 11

oh ok thank you!! :)

Answer 12

welcome:)