Question

Tickets for the school dance are $5. At that price, 300 students go to the dance. A survey of the students shows that if the ticket price goes up by $0.50, the number of students going to the dance decreases by 30. What is the optimum ticket price?

Answer 1

The optimal price should be $10 which will result in maximum revenue.

Explanation:

y = [5+ 0.5x] [ 300 - 30x]

y = 1500 - 150x + 150x - 15x^2

y = 1500 - 15x^2

x^2 = 1500 /15

x =
`√(100)`

x = 10