Business, 16.04.2020 23:21 cheath104

Promoters of international fund-raising concerts must walk a fine line between profit and loss, especially when determining the price to charge for admission to closed-circuit TV showings in local theaters. By keeping records, a theater determines that at an admission price of $26, it averages 1000 people in attendance. For every drop in price of $1, it gains 50 customers. Each customer spends an average of $4 on concessions. What admission price should the theater charge in order to maximize total revenue?

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Promoters of international fund-raising concerts must walk a fine line between profit and loss, espe...