(Steps Shown) Suppose the demand equation for all-day passes to an amusement park is given by p = 70 - 0.02q , where p is the price of the pass in dollars
Question:
Suppose the demand equation for all-day passes to an amusement park is given by
p = 70 – 0.02q
, where
p
is the price of the pass in dollars and
q
is the number of people attending at that price.
- What price corresponds with an attendance of 3000 and what is the total revenue at that price?
- Write the revenue function as a function of attendance and then determine the attendance that will maximize the revenue.
Price: $2.99
Solution: The downloadable solution consists of 1 pages
Deliverable: Word Document 