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45b
Problem

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Textbook Expert
Textbook ExpertVerified Tutor
19 Nov 2021

Given information

1. A baseball team plays in a stadium that holds 55,000 spectators.

2. With ticket prices at , the average attendance had been 27,000.

3. When ticket prices were lowered to , the average attendance rose to 33,000.

Step-by-step explanation

Step 1.

From 45a we derived the demand function as follows:

 

Therefore revenue function is given by .

 

   

 

 

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