(adsbygoogle = window.adsbygoogle || []).push({}); 1. The problem statement, all variables and given/known data

An average of 20 000 people visit the Lakeside Amusement Park each day in the summer. The admission fee is $25.00. Consultants predict that, for each $1.00 increase in the admission fee, the park will lose an average of 750 customers a day. Determine the function that represents the projected daily revenue if the admission fee is increased AND estimate the ticket price that will maximize function.

2. Relevant equations

I figured out the equation of the revenue, which I'm sure is correct. It is:

D(n) = (25.00 + 1.00n)(20 000-750n)

let n represent the number of times the price increases.

3. The attempt at a solution

However, I did not understand the second question, do you have to lower the ticket price to maximize revenue? Also, can anyone explain an fast way to determine a maximum revenue, because my method involves choosing random numbers and plopping them into the equation until I find a good value?

Thanks everyone! :)

**Physics Forums | Science Articles, Homework Help, Discussion**

Dismiss Notice

Join Physics Forums Today!

The friendliest, high quality science and math community on the planet! Everyone who loves science is here!

The friendliest, high quality science and math community on the planet! Everyone who loves science is here!

# Homework Help: Maximizing Revenue

**Physics Forums | Science Articles, Homework Help, Discussion**