Question: (1 point) A baseball team plays in a stadium that holds 62000 spectators. With the ticket price at $11 the average attendance has been

(1 point) A baseball team plays in a stadium that holds 62000

(1 point) A baseball team plays in a stadium that holds 62000 spectators. With the ticket price at $11 the average attendance has been 26000. When the price dropped to $8, the average attendance rose to 31000. a) Find the demand function p(x), where x is the number of the spectators. (Assume that p(x) is linear.) p(x) = b) How should ticket prices be set to maximize revenue? The revenue is maximized by charging $ per ticket.

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As because px is linear So let px An B px Ax B A BER P11 26000 Jol 9 11 A B 260000 P... View full answer

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