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An Alberta-based NHL team is struggling to fill its seats. When the average t ...
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An Alberta-based NHL team is struggling to fill its seats. When the average ticket price is $250, the team sells an average of 6000 tickets. However, when the average price is reduced to $150, the team sells an average of 12000 tickets. The relation of sold tickets q(x) as a function of their average price x is assumed to be linear. Find the function q(x). What should the average ticket price be in order to maximize revenue? Round your answer to two decimal places. (Hint: Use the revenue function R(x)=xq(x) ) Function: q(x)= Optimal Price: $