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Math Help - Maximium Revenue

  1. #1
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    Exclamation Maximium Revenue

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    Last edited by ab32; October 27th 2008 at 06:26 PM.
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  2. #2
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    Quote Originally Posted by ab32 View Post
    A water park finds that at an admission price of $16, attendance is 600 people per day. For every $1 decrease in price, 50 more people visit the park per day. Find the price and corresponding park attendance that maximize revenue.


    how do i do this problem?? having a hard time solving

    stablish the equation: (16 - X)(600 + 50x)

    find the vertex that will generate the revenue: x1= 16 x2=-12
    x2 + x1 /2 (-12+16)/2=2

    (16-2)(600+100)=9800. vertex at (2, 9800)

    therefore: the maximum revenue $9800. price $14.
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