Question: (5 marks) You have just been employed as the Quantitative Analyst by a budget event organizing firm. Your task is to maximize the firm's total

(5 marks) You have just been employed as the Quantitative Analyst

(5 marks) You have just been employed as the Quantitative Analyst by a budget event organizing firm. Your task is to maximize the firm's total revenue. The admission fee to their weekend program for business students, "Board Room Discussions is GHC10 and the average attendance is 1000 students. Analysis from the recent survey conducted by the marketing department show that every GHC1 reduction in the admission fee will attract 200 more students to attend. The records also show that every student who attends the event spends GH5 on one of their publications Required: i. State the total revenue function of the firm. (5 marks) ii. Estimate the admission fee that maximizes total revenue and total revenue at that price

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