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The demand function for ice hockey tickets for a typical game at a HV-71 game is...

The demand function for ice hockey tickets for a typical game at a HV-71 game is D(?)=200,000−10,000p. The team has a clever and avaricious athletic director who sets his ticket prices so as to maximize revenue. The Kinnarps Arena holds 100,000 spectators.

(a)Write down the inverse demand function.

(b)Write expressions for total revenue and marginal revenue as a function of the number of tickets sold.

(c)What price will generate the maximum revenue? What quantity will be sold at this price?

(d)At this quantity, what is marginal revenue? At this quantity, what is the price elasticity of demand? Will the stadium be full?

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