Respuesta :
I have to look at my notes again but I know your two equations are gonna be...
S= reserved seats L = lawn chairs
S + L = 5000
40L + 65S = 20,000$
now you just solve the bottom one for each variable for itself then plug that in your top for the amount in each and how many of which ticket was sold.
S= reserved seats L = lawn chairs
S + L = 5000
40L + 65S = 20,000$
now you just solve the bottom one for each variable for itself then plug that in your top for the amount in each and how many of which ticket was sold.
Answer:
Let the number of reserved tickets be x
Let the number of lawn seats be y
Constraint functions are:
Maximum capacity means [tex]x+y\leq 20000[/tex]
Condition for concert to be held is: [tex]x+y\geq 5000[/tex]
We also have : lawn seats<reserved seats
means [tex]y\leq x[/tex]
Maximum profit equation is:
[tex]p=65x+40y[/tex]
If we graph the functions, we will get the following intersection points :
(10000,10000) (20000,0)(2500,2500)(5000,0)
p at (10000,10000) = 65(10000) + 40(10000) = $1050000
p at (20000,0) = 65(20000) + 40(0) = $1300000
p at (2500,2500) = 65(2500) + 40(2500) = $262500
p at (5000,0) = 65(5000) + 40(0) = $325000
Hence, maximum profit occurs when all 20000 reserved seats are sold and the profit is $1,300,000.
Please find the graph attached.
