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a band is playing a 5000 seat arena and determines that if it sells tickets for $50 each, it will only sell 2,000 tickets. at decides to sell tickets at reduced prices in order to sell more tickets, and discovers that that for each $5 it reduces prices, it will sell an additional 500 tickets. what is the optimal ticket price if the band wants to maximize the revenue from this concert?

Respuesta :

ThePhilTwin29

Answer:

375,000$?

Step-by-step explanation:

Answer:

Optimal ticket price is $35

Step-by-step explanation:

$50 -> 2000 tickets => $100,000 revenue

each $5 drop in price equals 500 more tickets sold

$40 -> 3000 tickets => $120,000 revenue

$35 -> 3500 tickets => $122,500 revenue

$30 -> 4000 tickets => $120,000 revenue

$25 -> 4500 tickets => $112,500 revenue

$20 -> 5000 tickets => $100,000 revenue

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