The demand for tickets to an amusement park is given by p = 70 - 0.2q, where p is the price of a ticket in dollars and q is the number of people attending at that price.

a. What price generates an attendance of 3,000 people? What is the total revenue at that price? What is the total revenue if the price is $20?
b. Write the revenue function as a function of attendance, q, at the amusement park.
c. What attendance maximizes revenue?
d. What price should be charged to maximize revenue?
e. What is the maximum revenue? Can we determine the corresponding profit?

Answers

Answer 1

Answer:

Step-by-step explanation:

From the information given:

p = 70 - 0.02q

when:

q = 3000

p = 70 - 0.02 (3000)

p = 70 - 60

p = 10 dollars

The total revenue = price × number of people

= 10 × 3000

= 30000 dollars

If the price is $20

20 = 70 - 0.02q

0.02q = 70 - 20

0.02q = 50

q = 50/0.02

q = 2500

If price is $20, The total revenue = 20  × 2500

= 50000 dollars

b)

The revenue function R = price × attendance

R = p × q

R = (70 - 0.02q)q

R = 70q - 0.02q²

c)

R(q) = 70q - 0.02q²

Taking the differential of the value on the right hand side.

R'(q) = 70 × (1) - 0.02 × (2q)

R'(q) = 70 - 0.04q

If we set R'(q) = 0

70 - 0.04q = 0

70 = 0.04q

q = 70/0.04

q = 1750   (critical point)

R"(q) = 0 - 0.04 × 1

R"(q) = -0.04

R"(1750) = -0.04 < 0

R is maximum when q = 1750

d)

At q = 1750

p = 70 - 0.02(q)

p = 70 - 0.02(1750)

p = 70 - 35

p = 35 dollars

e)

R(q) = 70q - 0.02q²   because R is max at q = 1750

R(1750) =  70 × 1750 - 0.02  × (1750)²

R_(max) = 122500 - 61250

R_(max) = 61250 dollars

Given that the actual price is 20 dollars when the price is changed to 35 dollars, we have a maximum revenue of:

Suppose:

p = 20 and q = 2500  (from a)

Then;

R = p × q

R = 20 × 2500

R = 50000 dollars

If R = 35, then q = 1750

R_{max} = 35 × 1750

R_{max} = 61250 dollars

Profit = R_{max}  - R

Profit = 61250 - 50000

Profit = 11250 dollars


Related Questions

I really think it’s a good question and my homework

Answers

Answer:

77.245 i used me brane and paper and give brainliest and your in shcool why why why cheat

Step-by-step explanation:

Answer:

680.745

Step-by-step explanation:

hope this helps.

HELP ME PLZ

Two parallel lines are cut by a transversal as shown below.
Suppose mZ1 = 121°. Find m2 6 and m2 7.
m26 = Me
HL7 =

Answers

Step-by-step explanation:

hope this will help you.....

Answer:

m angle 6 = (180°-121°) =59°m angle 7 = 121°

What is the answer? I need help quick!

Answers

Answer:

Point B

Step-by-step explanation:

-6 is to the left from origin and π/12 is in between 0 and π/6 above the x-axis. So the point (-6, π/12) is in the second quadrant.

Other points represent coordinates of:

A=(6, π/12), C=(-6, -π/12), D=(6, -π/12)

This is point B and correct choice is option B.

9514 1404 393

Answer:

  point C

Step-by-step explanation:

The given coordinates (-6, π/12) are equivalent to (6, 13π/12). That is, the negative radius is equivalent to a positive radius in the opposite direction (angle different by π radians).

The point on the diagram with coordinates (6, 13π/12) is point C.

1. Yejin plans to retire at age 60. She wants to create an annuity fund, which will pay her a monthly allowance of $4000 during her retirement. She wants to save enough money so that the payments lasts for 30 years. A financial advisor has told her the she can expect to earn 5% interest on her funds, compounded annually.

2. Yejin has just turned 28 years old. She currently has no retirement savings. She wants to save part of her salary each month into her annuity fund. Calculate the amount Yejin needs to save each month, to meet her retirement goal.

Answers

9514 1404 393

Answer:

  $3891.10

Step-by-step explanation:

This question is a bit unusual in that the interest is compounded annually, but payments and withdrawals are made monthly. The effective monthly rate is ...

  1.05^(1/12) -1 = 0.407412378% = i

We assume that payments to the annuity are made at the end of the month, and that withdrawals are made at the beginning of the month. (The last payment and the first withdrawal are made on the same day.)

The amount of money required in the fund is ...

  A = $4000(1 -(1.00407^-360))/(1 -1.00407^-1) = $757,712.88

The amount of money needed each month to be put into the fund is P, where ...

  $757,712.88 = P(1 -1.00407)^(-12(60-28))/(1 -1.00407^-1) = 194.7297P

  P = $757,712.88/194.7297 = $3891.10

Yejin needs to save $3891.10 each month to meet her retirement goal.

_____

Sanity check

Yejin wants payments for 30 years from the fund to which she has contributed for 32 years. The similarity of the time periods means that Yejin's monthly contribution will need to be very similar to the amount she plans to withdraw.

The only ways to reduce the required contribution are to earn a higher interest on deposits, or to adjust the relative time periods (retire later).

can someone explain how 1/4 × 900/1 is equal to 225, my mom is asking for an explanation and I used a calculator help me ​

Answers

Answer:

See below

Step-by-step explanation:

[tex] \frac{1}{4} \times \frac{900}{1} \\ \\ = \frac{1 \times 900}{4 \times 1} \\ \\ = \frac{900}{4} \\ \\ = \frac{9 \times \cancel {100} }{\cancel4} \\ \\ = 9 \times 25 \\ \\ = 225[/tex]

Answer:

four of 225 makes 900/1, or 900. So, one 225 should be one of the four 225s that equal 900. 1/4 × 1/900, or 1/4 of 900, should be 225.

prove tha "an empty set is a subset of any set"​

Answers

Answ

yes it is

Step-by-step explanation:

The number of points scored by a basketball player in the first eight games of a season are shown below. 15, 35, 18, 30, 25, 21, 32, 16 What would happen to the data distribution if she scored 24, 22, 27, and 28 points in her next four games?

Answers

Answer:

im not sure how the data should be interpreted but here is the distribution. It goes up by .416

Step-by-step explanation:

the average of the first 8 games is 24

the average of the 12 games is 24.416

help with geometry pleasee

Answers

Answer:

Angle E

Step-by-step explanation:

Which expression is equivalent to 33.63. 23 without exponents?
A. 3+3+3+6+6+6+2+2+2
B. 3x3x3x6x6x6x2x2x2
C. 9+18+6
D. 9x18x6

Answers

Yeah, what they said.

A trombone acts like an open pipe of length 2.96 m .On a cold day it plays,its 4th harmonic at 221 hz what is the speed of the sound waves in the horn that day?

Answers

Answer:

327.08 m/s

Step-by-step explanation:

Given that:

Length of pipe = 2.96m

4th harmonic frequency = 221 Hz

Speed of wave in the horn :

Speed of wave (v) = fλ

For 4th harmonic :

Wavelength, λ = (2/4)L

λ = L/2 ; 2λ = L

2λ = 2.96

λ = 2.96 / 2

λ = 1.48 m

Hence, speed of wave in the horn = 221 * 1.48 = 327.08 m/s

The following data represent the number of grams of fat in breakfast meals offered at a local fast food restaurant. ​(a) Construct an ordered​ stem-and-leaf plot and ​(b) describe the shape of the distribution.
37
43
18
27
20
16
35
23
12
5
17
23
2
12
18
17
39
25
3
4
19
6

Answers

Derslerinde başarılar dilerim

square?
i neeed 200000000 charaters reeeeeeeee

Answers

Answer:

31

Step-by-step explanation:

you do 6×3=18 then you do 18+7=25  last 25+17=42 then you add 2

Answer:

i dont know what ur saying but square would me x2 or somthing like that.

HELP PLZZZ ASAP THNAKS

Answers

Answer:

x = 40

Step-by-step explanation:

x + 2x + 6 = 126

3x + 6 = 126

3x = 120

x = 40

What is the difference in height between the shortest and longest candy bars?

Answers

Answer:

1.5 inches

Step-by-step explanation:

If the balance at the end of eight years on an investment of $196 that has been invested at a rate of 9% is $337.12, how much was the interest

Answers

Answer:

$141.12

Step-by-step explanation:

Initial investment = $196

After 8 years with 9% interest rate it becomes: $337.12

The amount of interest will be:

= $337.12 - $196

= $141.12

easy question????????????/

Answers

Answer:

The answer to this is...........

Step-by-step explanation:

unknown

or 95

Answer:

95

Step-by-step explanation:

Which points are on the graph of g(x) = (1/5)^x
Choose all answers that are correct.
A.(-1,5)
B.(3,1/125)
C.(1,0)
D.(-2,1/25 )

Answers

Answer:

A) The point( -1 , 5)  is satisfies the  given graph  [tex]g(x) = (\frac{1}{5} )^{x}[/tex]

B) The point( 3 , 1/125)  is satisfies the  given graph  [tex]g(x) = (\frac{1}{5} )^{x}[/tex]

Step-by-step explanation:

Explanation:-

Given graph  

               y =      [tex]g(x) = (\frac{1}{5} )^{x}[/tex]

Put the point ( -1 , 5)

Put y =5 and x =-1

            [tex]5 = (\frac{1}{5} )^{-1} = 5[/tex]

The point( -1 , 5)  is satisfies the  given graph

ii)

Given graph  

               y =      [tex]g(x) = (\frac{1}{5} )^{x}[/tex]

             [tex]\frac{1}{125} = (\frac{1}{5} )^{3} = \frac{1}{125}[/tex]

The point( 3 , 1/125)  is satisfies the  given graph  [tex]g(x) = (\frac{1}{5} )^{x}[/tex]

                 

Kyle was asked to make a model to solve the following problem.

Mr. Bloom is creating a garden. 4/10 of his garden will be roses and 2/10 will be made up of sunflowers. How much room does Mr. Bloom have left after planting the roses and sunflowers?



Kyle said the answer was 2/5. Do you agree? Justify your reasoning in the post below.

Answers

Answer:

yes, kyle is right.

Step-by-step explanation:

4/10 + 2/10 = 6/10

there are 4/10 left after planting which can be reduced by 2 = 2/5

Answer:

No, it is 3/5

Step-by-step explanation:

Because you divide by 2  for both bottom and top of  the fractions and you will get 1/5, and 2/5 and you add them together and you get 3/5.

Graph y= 3x+4 Please help! 8th grade math

Answers

Pick any three points
(0, 4), (1, 7), (2, 10)
Since the graph is linear, plot these points and draw a line through them

Which Inequality is shown on the accompanying graph (image included)
If you can, pls explain :’)

Answers

Answer:

4. x ≥ -1

Step-by-step explanation:

The graph shows a directed line that starts at -1 towards the your right. The full circle indicates that -1 is included among the possible values of x. This means that all possible values of x include -1 and above.

Therefore, we can say x is greater than or equal to -1.

This is represented as:

x ≥ -1

In the figure shown below, lines j and k are parallel. Which equation can be used to find the value of x in the figure?

Answers

Answer:

Step-by-step explanation:

D  b/c you know that the two angles add to 180°

The solution is Option D.

The value of x can be calculated from the equation

( x + 40 ) + ( 2x + 20 ) = 180

What are Parallel Lines Cut by Transversal?

Straight, equally spaced lines that never cross each other and are on the same plane are called parallel lines. The angles that are created when any two parallel lines are intersected by a line (referred to as the transversal) have a relationship. Corresponding angles, Alternate Interior Angles, Alternate Exterior Angles, and Consecutive Interior Angles are some of the several pairs of angles that are created at this intersection.

Corresponding angles

When two parallel lines are intersected by a transversal, the corresponding angles have the same relative position

Alternate Interior Angles

Alternate interior angles are formed on the inside of two parallel lines which are intersected by a transversal.

Alternate Exterior Angles

The pairs of angles formed on either side of a transversal that divides two parallel lines are known as alternate exterior angles.

Consecutive Interior Angles

When two parallel lines are cut by a transversal, the pairs of angles formed on the inside of one side of the transversal are called consecutive interior angles or co-interior angles

Given data ,

Let the parallel lines be j and k

The transversal line is m

Now , the value ( 2x + 20 )° lies on one side of the transversal line

And the value ( x + 40 )° lies on one side of the transversal line

The total angle of a line is 180°

So ,

The sum of ( 2x + 20 )° and ( x + 40 )° will be 180°

Therefore , The solution is ( x + 40 ) + ( 2x + 20 ) = 180

Hence , The value of x can be calculated from the equation

( x + 40 ) + ( 2x + 20 ) = 180

To learn more about angles in parallel lines click :

https://brainly.com/question/28182928

#SPJ2

What is the value of - |-60|?

Answers

Answer:

-60

Step-by-step explanation:

because the abousulte value at first is 60 and then you multiple it by the negative that's there

Answer:

-60

Step-by-step explanation:

first you do inside the absolute it has to be positive

so it`s 60

but the outside is negative

so the answer must be -60

Find the result when 5m+2 is subtracted from 9m

Answers

Answer:

6m

Step-by-step explanation:

9m - (5m-2) =

5m-2= 3m

9m - 3m= 6m

Please give Brainliest if it helped.

the grade point average for 10 students are listed below. find the range of the data set.
0.8, 0.9 1.8, 2.0, 2.9, 3.2, 3.3 ,3.6, 4.0

Answers

Answer:

might be 22.5 i think but i'm not sure correct me if i'm wrong

Step-by-step explanation:

Answer:

Step-by-step explanation:

the range is the difference between the largest and the smallest value

4.0-0.8=3.2

Don't steal points
its not cool
i WILL report
and also
answer this and u could have a chance to get brainliest
ill be asking 10 questions
whoever has the best answer in any of these ill give brainliest :D

Answers

Answer:

179

Step-by-step explanation:

5x^2 + x - 7

5(6)^2 + 6 - 7

5(36) + 6 - 7

180 +6 -7

180 - 1

179

Answer:

179 is the correct answer.

Step-by-step explanation:

x = 6

5x^2 + x - 7

Now, replace both x's with 6 and solve,

5(6)^2 + 6 - 7

(6 x 6 = 36)

5 x 36 + 6 - 7

(5 x 36 = 180)

180 + 6 - 7 = 179

Alice purchased a cell phone for 30% ff the original price. The sales price was $84 . What was the original price of the cell

Answers

Answer: $120

Step-by-step explanation:Quick maths.

An armount of nitrogen undergoes a physical change and increases its volurme, What can be knoW) about this
physical change?
O The boiling point of the nitrogen increased.
O The mass of nitrogen increased.
O The color changed.
O The density changed.

Answers

Answer:

d

Step-by-step explanation:

DA−2qA=B^3
Solve for A

Answers

Answer:

[tex]a=\frac{b^{3} }{d-2q}[/tex]

Step-by-step explanation:

i think

The value of A from the given equation is A=B³/(D-2q).

The given equation is DA-2qA=B³.

We need to solve the given equation for A.

What is an equation?

In mathematics, an equation is a formula that expresses the equality of two expressions, by connecting them with the equals sign =.

Now, DA-2qA=B³ can be solved for A as follows:

A(D-2q)=B³

⇒A=B³/(D-2q)

Therefore, the value of A from the given equation is A=B³/(D-2q).

To learn more about an equation visit:

brainly.com/question/14686792.

#SPJ2

Use the scale drawing and the scale factor to enlarge a square that has a side length of 12 in. Scale factor= 3 in:2m.
Which proportion could you use to solve the side length, x, of the enlarged square?

Answers

Given:

The side of square = 12 in.

Scale factor of enlargement = 3 in : 2 m

To find:

The proportion that is use to solve the side length, x, of the enlarged square.

Solution:

Let, the side of length of enlarged square = x m

In case of enlargement the corresponding sides are proportional.

[tex]\dfrac{3}{12}=\dfrac{2}{x}[/tex]

[tex]3x=2\times 12[/tex]

[tex]3x=24[/tex]

Divide both sides by 3.

[tex]x=\dfrac{24}{3}[/tex]

[tex]x=8[/tex]

Therefore, the required proportion is [tex]\dfrac{3}{12}=\dfrac{2}{x}[/tex] and the side length of the square after enlargement is 8 m.


help pleaseee! with geometry

Answers

Answer:

2x(x+6)(x-6)

Step-by-step explanation:

2x³-72

2x(x²-36)

2x(x+6)(x-6)

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