Question

An amusement park has 32000 visitors per day when it charges $70 per person. For each $2 increase in price, the park loses about 800 visitors answer. How much should the park charge to maximize the daily revenue? What is the maximum daily revenue?

Answer 1

Maximum daily revenue = $2,249,600

Explanation:

If you approach this problem with a trail and error mindset you can quickly calculate that if you take an increase of $6 per ticket or $76 per ticket, then subtract the equivalent loss of visitors which would be 800 * 3 or 2,400 then you get 29,600 visitors. By simply multiplying this number by the cost of the tickets you achive 2,249,600 daily. This could be wrong as I did not use a formula.