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.

Question

Chaim Alvarez

Mathematics

31 August, 00:15

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.

+5

Answers (1)

Know the Answer?

Isla Massey · 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