Answer:
question 1
the ticket price which results in the greatest revenue is 14+8=22$
question 2
the greatest revenue we get is 22*(7500-250*8)= 22*5500=121000$
Step-by-step explanation:
the cost of a ticket to music concert is 14$
capacity of people for concert = 7500
for every increase in price attendance decreases by 250
so the required equation for getting revenue is
y = (14+x)(7500-250x)
= 105000+7500x-3500x-250x^2
by differentiating the above equation with respect to x we can find the local maxima which gives us the price for getting more revenue
dy/dx = 7500 -3500 - 500x =0
4000=500x
x= 8
from the above equation we got that if the increase in price was 8$ we will be getting the most revenue out of the concert
question 1
the ticket price which results in the greatest revenue is 14+8=22$
question 2
the greatest revenue we get is 22*(7500-250*8)= 22*5500=121000$
https://brainly.com/question/18807249
#SPJ10
