Question

At a price of $16 per ticket to a stadium football game, 40,000 people attend the game. At $12 per ticket, 50,000 people attend the game. On average, everyone spends $4 on concessions. the capacity of the stadium is 60,000 people. With the information given we wish to construct the price function p(x) where x is the number of people in attendance. From this, we construct the revenue function R(x), the total amount of money taken at the stadium. WE then wish to find the number of people that we wish to attend that will maximize revenue, and finally the price to be charged per ticket to guarantee the maximum revenue. The capacity of the stadium is to be determined from the price function.

Answer 1