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PLEASE HELP:( A baseball team plays in he stadium that holds 50000 spectators. With the ticket price at 8 dollars, the average attendence has been 20000. When the price dropped to 7 dollars, the average attendence rose to 25000.
a) Find the demand function , where is the number of the spectators. (assume that is linear)
b) What should be the ticket price so that the revenue is maximized?
 6 months ago
 6 months ago
PLEASE HELP:( A baseball team plays in he stadium that holds 50000 spectators. With the ticket price at 8 dollars, the average attendence has been 20000. When the price dropped to 7 dollars, the average attendence rose to 25000. a) Find the demand function , where is the number of the spectators. (assume that is linear) b) What should be the ticket price so that the revenue is maximized?
 6 months ago
 6 months ago

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DebbieGBest ResponseYou've already chosen the best response.0
The demand function gives quantity demanded (tickets sold) as a function of price (x). You are told: when x= 8 dollars, attendence is 20000> so (8, 20000) is a point on the line When x= 7 dollars, attendence is 25000> so (7, 25000) is a point on the line So you have 2 points on the line. Find the slope, then use one point and the slope to write the equation.
 6 months ago

mathcalculusBest ResponseYou've already chosen the best response.0
Y=5000X+20040 @DebbieG
 6 months ago

DebbieGBest ResponseYou've already chosen the best response.0
Hmmmmmm...... no, that doesn't look right. How did you get that? The slope is correct, but not your yintercept.
 6 months ago
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