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An arena has 6,000 seats. All seats are sold if tickets cost $35 each. For each $5 increase, 400 fewer tickets are sold. What is the maximum revenue and how many tickets are sold to achieve this maximum.

Respuesta :

To find the maximum revenue, we need to determine the ticket price that maximizes revenue and the corresponding number of tickets sold.

Let's denote:
- \( x \) as the number of $5 increases from the base price of $35.
- \( p \) as the increase in price from the base price of $35, so the price per ticket becomes \( 35 + 5x \).
- \( q \) as the decrease in the number of tickets sold for each $5 increase, so the number of tickets sold becomes \( 6000 - 400x \).

The revenue \( R \) is given by the product of the ticket price and the number of tickets sold:
\[ R = p \times q \]

Substituting the expressions for \( p \) and \( q \), we get:
\[ R = (35 + 5x) \times (6000 - 400x) \]

To find the maximum revenue, we can take the derivative of \( R \) with respect to \( x \), set it equal to zero, and solve for \( x \).

\[ \frac{dR}{dx} = 5(6000 - 400x) - 400(35 + 5x) \]
\[ \frac{dR}{dx} = 30000 - 2000x - 14000 - 2000x \]
\[ \frac{dR}{dx} = 16000 - 4000x \]

Setting \(\frac{dR}{dx} = 0\):
\[ 16000 - 4000x = 0 \]
\[ 4000x = 16000 \]
\[ x = 4 \]

So, \( x = 4 \) represents the number of $5 increases from the base price.

Now, to find the maximum revenue, substitute \( x = 4 \) back into the expression for \( R \):
\[ R = (35 + 5 \times 4) \times (6000 - 400 \times 4) \]
\[ R = (35 + 20) \times (6000 - 1600) \]
\[ R = 55 \times 4400 \]
\[ R = 242000 \]

Therefore, the maximum revenue is $242,000, and this is achieved by selling \( 6000 - 400 \times 4 = 4400 \) tickets.

Answer: The maximum revenue is $242,000, and 4,400 tickets are sold to achieve this maximum.

Step-by-step explanation:

To find the maximum revenue and the number of tickets sold to achieve it, we need to follow these steps:

1. Calculate the number of tickets sold at $35 each:

- At $35 per ticket, all 6,000 seats are sold.

- Total revenue at $35 per ticket = 6,000 seats * $35 = $210,000.

2. Determine the impact of a $5 increase in ticket price:

- For each $5 increase, 400 fewer tickets are sold.

- Revenue after a $5 increase = (6,000 - 400) seats * ($35 + $5) = 5,600 seats * $40 = $224,000.

3. Continue increasing the ticket price by $5 until the revenue starts decreasing:

- Next increase: (5,200 seats * $45) = $234,000

- Further increase: (4,800 seats * $50) = $240,000

- Another increase: (4,400 seats * $55) = $242,000

4. Identify the maximum revenue and the corresponding number of tickets sold:

- The maximum revenue is $242,000.

- The number of tickets sold to achieve this maximum revenue is 4,400 seats.

Therefore, the maximum revenue is $242,000, and 4,400 tickets are sold to achieve this maximum.