Question

The attendance (denoted by the variable F, measured in thousands of fans) at a Blue
Jays home game is approximated by
F = 150 W^1/3 P^-2/3
where W is the fraction of the games they have won so far (0 ≤ W ≤1) and
P is the price of a general admission ticket (suppose 7 ≤ P ≤10 dollars).
a) Find the partial derivatives ∂F / ∂W and ∂F / ∂P.
b) Suppose currently W = 0.512 and P = $8. Find the numerical value of the partial
derivatives above and tell me in words what they mean.
c) Now suppose attendance was determined by W alone in the form of F = 150W^1/3 . Is
this function (strictly) concave or convex? Explain. Why do you think your answer
makes sense? (Be brief.)

Answer 1