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wrote...
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Posts: 485
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4 weeks ago Edited: 4 weeks ago, bio_man
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)
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wrote...
Educator
4 weeks ago
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
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wrote...
Staff Member
4 weeks ago
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
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wrote...
Educator
4 weeks ago
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
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