The manager of a theater production group is evaluating the price of tickets for the upcoming season. Tickets last year cost $48, and an average of 550 tickets was sold for each performance. The manager estimates that for each $3 increase in ticket price, 25 fewer tickets will be sold for each performance. a. Define variables and write a function to represent the situation. b. How much should each ticket cost to maximize the revenue from sales? c. What is the maximum profit?

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06-12-2022
Mathematics

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The manager of a theater production group is evaluating the price of tickets for the upcoming season. Tickets last year cost $48, and an average of 550 tickets was sold for each performance. The manager estimates that for each $3 increase in ticket price, 25 fewer tickets will be sold for each performance. a. Define variables and write a function to represent the situation. b. How much should each ticket cost to maximize the revenue from sales? c. What is the maximum profit?

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