algebra word problem

Question

A movie theater estimates that for each $0.50 increase in ticket price, the number of tickets sold decreases by 60. The current ticket price of $16.50 yields 1800 tickets sold. Set up and equation to represent the daily revenue. What price should the theater charge for tickets in order to maximize daily revenue? Check solution 

Answer 1

Deyj,

 

The formula for the revenue generated by the theater is given by 

 

Revenue = Price of a single ticket X Number of tickets sold

 

OR

 

R = pXn

 

The trick is to figure out how you can express n, the number of tickets sold, in terms of the price p so that the entire function R depends only on p. Think about how much the number of tickets sold decreases compared to the increase in price.

 

I hope that helps, but if you're still puzzled and would like to schedule a lesson online, please feel free to contact me. Thanks.