Question

5. A new virtual festival called CovidPalooza is being planned for this summer and will take...

5. A new virtual festival called CovidPalooza is being planned for this summer and will take place on a paid online streaming service. Market research has determined that if they charge $8 for the show, they will get 5000 customers. Research has also determined that for each $1 increase in price will result in 100 fewer people signing up for the show. Suppose x represents the number of $1 increases in price.

a) Write down a formula for R(x), the total expected revenue for the show as a function of x.

b) Write down the critical values of x.

c) What price should the festival charge in order to maximize revenue?

d) What is that maximum revenue?

*SHOW WORK PLEASE*

Math   Calculus   
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