when the admission price for a baseball game was $6 per ticket, 36,000 tickets were sold. When the price was raised to $7, only 33,000 tickets were sold. Assume that the demand function is linear and that the marginal and fixed cost for the ballpark owners are $0.20 and $85,000, respectively.
Find the profit as a function of x, the number of tickets sold. Then comment about the slopes of P when x=18,000 and x=36000. Lastly find the marginal profit when 18000 tickets are sold and when 36,000 tickets are sold.
Find the profit as a function of x, the number of tickets sold. Then comment about the slopes of P when x=18,000 and x=36000. Lastly find the marginal profit when 18000 tickets are sold and when 36,000 tickets are sold.