|
Title: A baseball team plays in a stadium that holds 50000 spectators. With the ticket price at $9 the aver Post by: Catracho on Jul 18, 2019 A baseball team plays in a stadium that holds 50000 spectators. With the ticket
price at $9 the average attendance has been 19000. When the price dropped to S7, the average attendance rose to 25000. Find a demand function D(q), where q is the quantity/number of the spectators. (Assume D(q) is linear) Title: Re: A baseball team plays in a stadium that holds 50000 spectators. With the ticket price at $9 the ... Post by: bio_man on Jul 18, 2019 Of all your questions, this one was the least I am confident with. I'll have another staff member look @ it too. My attempt is shown in the attachment.
@bolbol @duddy Title: Re: A baseball team plays in a stadium that holds 50000 spectators. With the ticket price at $9 the ... Post by: bolbol on Jul 18, 2019 The demand function p(x) gives the price for x units sold, so in this problem x is the attendance, p(x) is the ticket price.
we have two points of the demand function: (19000, 9) and (25000, 7) the slope is m = 7-9 / 25000 - 19000 = -2 / 6000 = -1/ 3000 using the point - slope equation to find the line. y-y1= m(x-x1) y-9=-1/ 3000 (x-25000) y= -1/ 3000x + 25000/ 3000 + 9 y= -1/300x + 17 so D(q) = -3000 Title: Re: A baseball team plays in a stadium that holds 50000 spectators. With the ticket price at $9 the ... Post by: bio_man on Jul 19, 2019 Interesting, so no need for +50000?
I noticed your answered modeled that the document found here https://biology-forums.com/index.php?action=downloads;sa=view;down=12883 |