× Didn't find what you were looking for? Ask a question

Top Posters
Since Sunday
26
21
21
21
20
19
19
19
18
18
18
18

# A baseball team plays in a stadium that holds 50000 spectators. With the ticket price at $9 the aver wrote... Express Lane Plus Posts: 485 Rep: 2 0 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 aver 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) Attached file Thumbnail(s): You must login or register to gain access to this attachment. Read 85 times 3 Replies
Related Topics
Replies
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 Attached file Thumbnail(s): You must login or register to gain access to this attachment.
 The best way to say thank you is with a positive review:   https://trustpilot.com/review/biology-forums.com  Your support goes a long way!▶ Make a note request here
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/ 3000using the point - slope equation to find the line.y-y1= m(x-x1)y-9=-1/ 3000 (x-25000)y= -1/ 3000x + 25000/ 3000 + 9y= -1/300x + 17so D(q) = -3000
 Thank you for using Biology-Forums.
wrote...
Educator
4 weeks ago
 The best way to say thank you is with a positive review:   https://trustpilot.com/review/biology-forums.com  Your support goes a long way!▶ Make a note request here