What Admission Price Should Be Charged In Order To Maximize Revenue And What Is The Maximum Revenue?
Posted in Admissions on June 22nd, 2009 by admin
When a carnival owner charges $5.00 for admission, there is an average attendance of 100 people. For every $0.25 increase in the admission price, there is a loss of 2 customers from the average number. What admission price should be charged in order to maximize revenue and what is the maximum revenue?
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