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Concert Tickets: The revenue at the Assembly Center depends on the number of seats sold for the Willie Williams and the Wranglers concert. At $10 per...
Concert Tickets: The revenue at the Assembly Center depends on the number of seats sold for the Willie Williams and the Wranglers concert. At $10 per ticket, they will fill all 8000 seats. The manager knows that for every $1 increase in the price, 500 tickets will go unsold. If the revenue in dollars, ????(????), is given by ????(????) = −500????^2 + 13000????, where ???? is the price per ticket sold.
(a) What ticket price will produce a maximum revenue? What is the maximum revenue? You must show this algebraically.
(b) Find the number of unsold seats that resulted in this maximum revenue given the following ???? = 13000 − 500???? where ???? is the number of seats sold and ???? is the price. You must show this algebraically
