dit View History Bookmarks Window Help ? 22%?, Tue 3:00 PM Paris Cutler a webwor
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dit View History Bookmarks Window Help ? 22%?, Tue 3:00 PM Paris Cutler a webwork2 fertlewis.edu .2.3 Quadratic Applications: Problem 8 Previous Problem ist Next Attempt Results Entered Answer Preview Result 2 of the questions remain unanswered 0 peopie visit Riverside Park each day in the summer. The park charges $18.00 for admission Consultants 10 increase in the entrance price, the park would lose an average of 1,500 customers per day. Likewise, they wi gan an average of 1,500 customers per day for each $1.00 decrease in price a) Let r denote then change, in dollars, in ticket prices from $18.00. Express the daily nevenue trom ticket sales, R as a tunction of r b) What sicket price maximizes the revenue from ticket sales? s Note: In order to get credit for this probiem al answers must be correct round to nearest cent Preview My Answers Submit Answers Your score was recordedExplanation / Answer
a)
x = change
hence
price=18+x
customer = 70000 - 1500x
Find revenue as
R(x) = (18+x)(70000-1500x)
R(x) = -1500x² +43000x +1260000
-----
b)
R'(x) = -3000x +43000
Set to 0,
-3000x +43000 =0
3000x = 43000
x = 43000/3000
Find price as
price=18+43000/3000
=$ 32.33
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