An airline finds that if it prices a cross-country ticket at $400, it will sell 500 tickets per day. It estimates that each $20 price reduction will result in 50 more tickets sold per day. Find the ticket price (and the number of tickets sold) that will maximize the airline's revenue. ticket price = ? number of tickets = ?
An airline finds that if it prices a cross-country ticket at $400, it will sell 500 tickets per day. It estimates that each $20 price reduction will result in 50 more tickets sold per day. Find the ticket price (and the number of tickets sold) that will maximize the airline's revenue. ticket price = ? number of tickets = ?
Elementary Algebra
17th Edition
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:Lynn Marecek, MaryAnne Anthony-Smith
Chapter3: Math Models
Section3.1: Use A Problem-solving Strategy
Problem 3.22TI: U.S. Census data shows that the median price of new home in the United States in November 2014 was...
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An airline finds that if it prices a cross-country ticket at $400, it will sell 500 tickets per day. It estimates that each $20 price reduction will result in 50 more tickets sold per day. Find the ticket price (and the number of tickets sold) that will maximize the airline's revenue.
ticket price = ?
number of tickets = ?
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