Tickets to a concert cost $4, and the projected attendence is 300 people. It is further projected that for every 10 cents increase in tickets price, the average attendance will decrease by 5. At what ticket price will they nightly receipts be $ 1,248 ?

Markus Petty

Markus Petty

Answered question

2022-07-25

Tickets to a concert cost $4, and the projected attendence is 300 people. It is further projected that for every 10 cents increase in tickets price, the average attendance will decrease by 5. At what ticket price will they nightly receipts be $ 1,248 ?

Answer & Explanation

fairymischiefv9

fairymischiefv9

Beginner2022-07-26Added 11 answers

cost of ticket = 4
total attendance = 300
for every 10 cents increase in tickets price, the average attendance will decrease by 5
10 cents = 1 dollar
let at dollar x ticket price the recipt be $1248
( 4 + 0.1 x ) ( 300 5 x ) = 1248 1200 20 x + 30 x 0.5 x 2 = 1248 0.5 x 2 10 x + 48 = 0 solving for x
x = 12
x = 8
therefore, at dollar 12 and dollar 8 ticket price is $1248

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