The demand for the tickets to an amusement park is given by p = 80 0.029,

Fantastic news! We've Found the answer you've been seeking!

Question:

The demand for the tickets to an amusement park is given by p = 80 – 0.029, where p is the price of the ticket in dollars and q is the number of people attending at that price.

a. What price generates an attendance of 2500 people? What is the total revenue at that price?

b. Write the Revenue Function as a function of attendance, q, at the amusement park.

c. What attendance maximizes Revenue at the park? What is the maximum Revenue?

Related Book For answer-question

Microeconomics

ISBN: 9781464146978

1st edition

Authors: Austan Goolsbee, Steven Levitt, Chad Syverson

See More Books

Posted Date: May 18, 2020 11:07 AM

See More Questions

A demand curve is given by p = 450/(x + 8). Find the consumer surplus when the selling price is $10.
The supply function for a product is given by p = q2 + 300, and the demand is given by p + q = 410. Find the equilibrium quantity and price?
The supply function for a product is given by p = 40 + 100 2x + 9, where x is the number of units supplied and p is the price in dollars. If the price is increasing at a rate of $1 per month, at what...
You are the newly appointed financial manager of The Shoebox (Pty) Ltd, which operates a chain of 20 large retail shoe stores in and around Port Elizabeth, selling on a cash-only basis. The stores...
Use geometry software to construct a line through two points. Measure the coordinates of the points and use them to calculate the slope. Observe how the value of the slope changes as you move one of...
Curtis is crippled with arthritis, but his crippling rarely interferes with his work. Revise the following sentences to reduce bias (e.g., gender, racial, ethnic, age, and disability).
How does RoRo differ from LoLo?
Draw an entity-relationship diagram for the following: An accounting firm holds recruiting events for college students. At these events, recruiters are seeking students with particular skills.
( a 1 ) Calculate the return on shareholders' equity for Ivanhoe in 2 0 2 4 . Note that Ivanhoe's articles of incorporation authorize only common shares. The average return for the shares listed on...
For a short time, the 250-kg roller-coaster car with passengers is traveling along the spiral track at a constant speed of v = 8 m/s. If the track descends d = 12 m for every full revolution, = 2...
Business-to-business buying over the Internet Group of answer choices has dramatically decreased since face-to-face communicationbetween a firm's sales force and its potential customers is...
Summarize of " The role of heritage structural engineering and why it is important for future generations" Here is the Link: -...
An engineer prepares an estimate to provide structural engineering services for a new housing facility. The total construction budget for the office complex is $120 million dollars. The design team...
Discuss The History of Construction Drawings What the History of Drawings What are Drawings in Construction The Purpose of Construction Drawings Different types of Construction Drawings
What is the basic purpose of construction joints?
Reinforcing bars are nominated on drawings using a particular convention. Explain this with an example ?
Problem 1.0 (25 Points) In Hill Cipher encryption method, user is using as Key HILL and the user wants to send a message SH. Find the encrypted message and show the decryption process. Key: (79)
Write a while loop that uses an explicit iterator to accomplish the same thing as Exercise 7.3. Exercise 7.3. Write a for-each loop that calls the addInterest method on each BankAccount object in a...
Suppose a firm has the following production function: Q = 2KL. The marginal product of capital for this production function is 2L, and the marginal product of labor is 2K. If capital rents for $100...
Suppose that Manny, Jack, and Moe can hire workers for $12 per hour, or can rent capital for $7 per hour. a. Write an expression for Manny, Jack, and Moe's total cost as a function of how many...
For decades, the mob ran a numbers game in which participants who matched three numbers chosen at random would win a prize. In the 1970s, state governments began authorizing state lottery...
The solar system is like an atom in that both (a) are governed principally through the electric force. (b) consist of a central body surrounded by objects moving in elliptical paths. (c) are composed...
Each second, the burning Suns mass (a) increases. (b) remains unchanged. (c) decreases.
The nebular theory is based on the observation that the solar system (a) follows patterns indicating that it formed progressively from physical processes. (b) has a structure much like an atom. (c)...

The demand for the tickets to an amusement park is given by p = 80 0.029,

Question:

Expert Answer:

Given p 80002q a When q 2500 price p 80 002 x 2500 p 30 Total revenueR pq 30 x 2500 R 75000 b Reve... View the full answer

Microeconomics

Students also viewed these mathematics questions