Question

The organisers of a sporting event know that, on average, 50 000 people will visit the venue
each day. They are presently charging $15.00 for an admission ticket. Each time in the past
when they have raised the admission price an average of 2500 fewer people have come to the
venue for each $1.00 increase in ticket price. Let x represent the number of $1.00 increases.
a Write the rule for a function which gives the revenue, R, in terms of x.
b Sketch the graph of R against x.
c Find the price which will maximise the revenue.

Answer 1

Y = revenue and X is 1. 00 increases to ticket
Y= -2500x^2 + 12,500x+750,000

At $15 attendance 50,000 revenue 750,000
At$16. 47,500. 760,000
At $17. 45,000. 765,000
At$18. 42,500. 765,000
At$19. 40,000. 760,000
At$20. 37,500. 750,000

for graph don't use attendance number $17 or $18 a ticket gives the same amount of revenue for tickets
In my opinion if place as room for more people more money in concession but here only wants revenue for tickets