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A baseball team plays in a stadium that holds 62000 spectators. With the ticket price at $12 the average attendance has been 26000. When the price...

A baseball team plays in a stadium that holds 62000 spectators. With the ticket price at $12 the average attendance has been 26000. When the price dropped to $10, the average attendance rose to 31000.
a) Find the demand function p(x) , where x is the number of the spectators. (Assume p(x) is linear.)
p(x)=
b) How should ticket prices be set to maximize revenue?

Price =

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8437902-demand equation.docx

A baseball team plays in a stadium that holds 62000 spectators. With
the ticket price at $12 the average attendance has been 26000. When
the price dropped to $10, the average attendance rose to...

Sign up to view the full answer

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