Case Study 12 Demand for regular daily admission tickets to the same theme park, based on average daily attendance, is given by D(p) = -7.7p2 + 495.8p + 10,000, where the regular admission price is Sp and D is the number of tickets demanded at that price. 5. The current regular daily admission price is $85. At this price, what is the elasticity of demand for tickets? Round to 3 decimal places. 6. Is the demand for tickets elastic or inelastic? Explain the meaning of your answer in the context of this problem. 7. Is revenue increasing or decreasing? 8. The park's Board of Directors is also considering raising the price of the regular daily admission ticket in 2023. Based on elasticity of demand, should they consider the increase? Explain your reasoning.
Previous question

Answers

Answer 1

Board of Directors should not consider raising the price

The elasticity of demand for tickets at the current regular daily admission price of $85 can be calculated using the formula:

Elasticity = (% change in quantity demanded) / (% change in price)

First, we need to find the quantity demanded at the current price. Using the demand function, D(p) = -7.7p^2 + 495.8p + 10,000:

D(85) = -7.7(85)^2 + 495.8(85) + 10,000 ≈ 6,724.5 tickets

Next, we find the derivative of the demand function with respect to price to calculate the rate of change:

dD(p)/dp = -15.4p + 495.8

At the price of $85, the rate of change is:

-15.4(85) + 495.8 ≈ -821.2

Now, we can calculate the elasticity of demand:

Elasticity = (-821.2/6,724.5) / (1/85) ≈ -1.569

Rounded to 3 decimal places, the elasticity of demand is -1.569. Since the elasticity is less than -1, the demand for tickets is elastic, meaning that a percentage increase in price will result in a larger percentage decrease in quantity demanded.

Given the elasticity of demand, if the price is increased, the revenue is expected to decrease, as fewer people will purchase tickets at the higher price. Therefore, based on the elasticity of demand, the Board of Directors should not consider raising the price of the regular daily admission ticket in 2023.

Learn more about elasticity here:

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Related Questions

A line segment with endpoints A(−2, 1) and B(2, 1) is dilated with a dilation centered at the origin and a scale factor of 52 to create A′B′¯¯¯¯¯¯¯¯¯¯. Which of the following statements regarding AB¯¯¯¯¯¯¯¯ is not true?

Answers

Answer:

AB = 5/2 A'B'

Step-by-step explanation:

the other answers:

2)    (−1, 3/2)

3)    8 inches

4)    The scale factor is between 0 and 1

5)     (8, −4) and (−4, −12)

I just took the quick check, these are the answers. I know you already took it so this isn't helpful but if anyone else needs it^^

3. Find the volume of a hemisphere with a radius of 17 inches. Round to the nearest tenth​

Answers

To find radius the formula is V=(2/3)πr
Hope this helps:)

#2 Find the value of x. Round to the nearest degree.

Answers

Answer:

49°

Step-by-step explanation:

arccos x = 15/23

1) If the first coordinate represents the output value and the second coordinate represents
the input value, which two points could NOT be on the graph of the same function?
(output, input)
A. (2.2)
D. (4,7)
B. (2, 3)
E. (7.4)
C (2.4)

Answers

Answer:

A. Yup. A.

Step-by-step explanation:

48 is what percent of 64?

Answers

Answer:

Answer is 75.

Step-by-step explanation:

I hope it's helpful!

Which postulate or theorem can be used to prove that
ABC~A ADC?
B
• SAS Congruence Postulate
•HL Congruence Theorem
• ASA Congruence Postulate
•SSS Congruence Postulate

Answers

Answer:

sSS Congruence Postulate

The answer is SSS Congruence Postulate

Step-by-step explanation:

How do I solve this??? LOL

Answers

Answer: y=8

Step-by-step explanation: 4y-4+3y=52

Question 1 of 5
Given a sphere with a diameter of 6 cm, find its volume to the nearest whole
number.
A. 113 cm3
B. 37 cm3
C. 85 cm3
D. 905 cm3

Answers

Answer:

A. 113cm³

Step-by-step explanation:

Finding the volume with diameter,

[tex]v = \frac{1}{6 }\pi {d}^{3} [/tex]

[tex]v = \frac{1}{6} \times \frac{22}{7} \times {6}^{3} [/tex]

[tex]v = 113.14cm^{3} [/tex]

to the nearest whole number

[tex]v = 113 {cm}^{3} [/tex]

Answer:

113 cm^3

Step-by-step explanation:

I Just took the quiz:)

2x + 6y = −6,

4x − 3y = −12


What is the solution to the system of equations?

(
,
)

Answers

Answer:

x=-3, y=0. (-3, 0).

Step-by-step explanation:

2x+6y=-6

4x-3y=-12

---------------

-2(2x+6y)=-2(-6)

4x-3y=-12

---------------------------

-4x-12y=12

4x-3y=-12

----------------

-15y=0

y=0/-15=0

2x+6(0)=-6

2x=-6

x=-6/2

x=-3

The population of a town has been growing, following the equation P=400t+3000, where t is years after 2010. The number of restaurants in the town has been growing according to the equation R=6t+35.

Complete an equation for the number of restaurants per capita (per person)

Restaurants per capita: ______

How many restaurants per capita does this model predict for the year 2016?_______

Please also explain it to me, only if you can! Thank you!

Answers

Step-by-step explanation:

t is time since 2010. so,

the population prediction for 2016 is :

p= 400 ( 2016-2010)+3000

p= 400 (6) + 3000=5400

the number of restaurant prediction for 2016 is.

R=6(2016-2010)+35

R=6 (6)+35=71

so, per capita (per person) there would be:

71 restaurant for 5400.

people that is :71/5400 or 0.0131 restaurant per person.

per restaurant there would be,5400/71 or 76.056 per restaurant.

population corresponding to time (t).

=( R/ P) = (6t + 35). / 400t + 3000, where t= 2016-2010= 6 years

= 71/5400

= 0.0131

Restaurant per capita

R/P = (6t+35) / (400t + 300)

t= 2016-2010 =16

R/P = (6.16+35) /(400.16+3000)

= 131 (6400+3000)

=85/9400

=0.009042

FIRST CORRECT ANSWER GETS BRANLIEST

Answers

Answer:

3 : 10

Step-by-step explanation:

Which of the following pairs show(s) two congruent triangles?

Answers

Answer:

B only

Step-by-step explanation:

In A and in C, only the angles of one triangle are congruent to the corresponding angles of the other triangle. That proves similar triangles but not necessarily congruent triangles.

Definition of congruent triangles:

Two triangle are congruent if all angles of one triangle are congruent to all corresponding angles of the other triangle and all sides of one triangle are congruent to all corresponding sides of the other triangle.

That happens only with the triangles in B.

Answer: B only

Out of three pairs, only pair B is an example of congruent triangles because they are exactly the same.

What are congruent triangles?

Two triangles are said to be congruent if they are exactly the same i.e. corresponding sides, as well as corresponding angles, are equal.

A)Triangles shown are similar triangles because the corresponding sides are not equal. In fact, they are in proportion.

B)Triangles shown are congruent because corresponding sides, as well as corresponding angles, are equal.

C)Triangles shown are similar triangles because the corresponding sides are not equal. In fact, they are in proportion.

Hence, out of three pairs, only pair B is an example of congruent triangles because they are exactly the same.

To get more about congruency visit:

https://brainly.com/question/1675117

Nicola used 25% of the milk she collected from her goats this morning to make cheese. If she has 8.4 quarts of milk left over, how many quarts of milk did she collect this morning?

Answers

Answer:

11.2

Step-by-step explanation:

The answer is 11.2

11.2*.25=2.8

11.2-2.8=8.4


Write an equation for the nth term of the geometric sequence 0.6, 3, 15, -- 75, ...
Then find a6. Round to the nearest tenth if necessary.

Answers

Answer:

Step-by-step explanation:

nth term = 0.6 × 5ⁿ⁻¹

a₆ = 0.6 × 5⁵ = 1875

The sixth term of the sequence is [tex]3,125.6[/tex]

Geometric sequence

GIven the geometric seqence 0.6, 3, 15, 75, .

The nth term of the sequence is expreessed as [tex]T_n = ar^{n-1}[/tex]

a is the first termn is the number of termsr is the common ratio

Given the following

a = 0.6

r = 5

n = 6

Get the nth term

[tex]T_n= 0.6(5)^{n-1}[/tex]

For thr sixth term:

[tex]T_6= 0.6(5)^{6-1}\\T_6= 0.6(5)^5\\T_6= 3,125.6[/tex]

Hence the sixth term of the sequence is [tex]3,125.6[/tex]

Learn more on geometrc sequence here: https://brainly.com/question/1509142

Please help me please

Answers

Answer:

D

Step-by-step explanation:

Left to right so it is KM (eliminate B and C). It isn't A because the line doesn't continue to the left through point A, so it is D.

|x-4|+6=13 solve this equation

Answers

Answer:

I THINK it would be 11.

Answer: x = 11
Hope this helps : )

What is the volume, V, of a right triangular prism with a base that is a right triangle with legs measuring 7 inches and 4 inches, and with a height measuring 7 inches?

Answers

Answer:

98

Step-by-step explanation:

i just finished this practice

Answer:

98 in³

Step-by-step explanation:

I just did the practice with a 100 percent and all answers correct first try :P

Jess make a big kettle of rice and beans.He used 1 1/2 cup of beans he used 4 cups times as much rice how many cup of rice did Jess use​

Answers

1.5(4) = 6

jess used 6 cups of rice

can u guys please help! tysmmmmmm

Answers

it's 88.1 x 10 to the power negative 2

and

0,0881

Step-by-step explanation:

88.1÷1000=0,0881

Find the area of rectangle ABCD

Answers:
A. 20
B. 10 square root 2 + square root of 82
C. 24
D. 12

Answers

9514 1404 393

Answer:

  D. 12

Step-by-step explanation:

There are a number of ways to find the area of this rectangle. Perhaps the most straightforward is to find the lengths of the sides and multiply those. The distance formula is useful.

  d = √((x2 -x1)^2 +(y2 -y1)^2)

Using the two upper-left points, we find the length of that side to be ...

  d = √((3 -0)^2 +(3 -0)^2) = √(9 +9) = √18 = 3√2

Similarly, the length of the lower-left side is ...

  d = √((-2 -0)^2 +(-2 -0)^2) = √(4+4) = √8 = 2√2

Then the area of the rectangle is ...

  A = LW

  A = (3√2)(2√2) = 3·2·(√2)^2 = 3·2·2 = 12

The area of rectangle ABCD is 12.

_____

Other methods include subtracting the area of the corner triangles from the area of the bounding square:

  5^2 -2(1/2)(3·3) -2(1/2)(2·2) = 25 -9 -4 = 12

Marty sold a book online. The service charge was a 15% fee for using their website. If Marty sold the book for $60.00, how much money will Marty receive after the fee is assessed?

Answers

Answer:  Marty would receive $69.00.

Step-by-step explanation:

15% is 9 of 60.

Marty would receive 51 dollars because 15% is 9 of 60 so you subtract 9 from 60 to get what Marty would receive after the fee of 9 dollars (15%) was assessed.

Answer 51

Solve for x
Solve for x

Answers

Answer:

x=19

Step-by-step explanation:

20/36=30/(x+5+30)

20(x+35)=30(36)

20x+700=1080

20x=380

x=19

x is 19 you’re welcome

-6/7 times (-3/8 does anyone know the answer?​

Answers

the answer to this question is 9/28

Find the distance from A to C​

Answers

Answer:

7

Step-by-step explanation:

Answer:74

Step-by-step explanation:

Which expression is equivalent to (5^3)^-2

Answers

(5^3)^−2 = 5^-6 = 1/(5^6)

Help po plss

1.jane read 10books in one year,while huan rrad 8books.find the ratio jane's to juan's finished books .

2.nadine has 860 female followers out of a total of 1260followes in the social photosharing site find the ratio of female to male followers.

3.a public school has 4415 students and 1200 teachers.what is the ratio of the students to each other teacher.​

Answers

Answer:

1. 10:8 = 5:4 (simplest form)

2. 860:400 = 43:20 (simplest form)

3. 4415:1200 = 883:240 (simplest form)

answer fast helpp.........................

Answers

Answer:

20°

Step-by-step explanation:

In circle with center O, PS is diameter.

[tex] m\angle PRS =90\degree [/tex]

(angle inscribed in semicircle)

PQRS is a cyclic quadrilateral.

Opposite angles of a cyclic quadrilateral are supplementary.

[tex] \therefore m\angle QPS + m\angle QRS = 180\degree [/tex]

[tex] \therefore (x\degree +25\degree) +(45\degree +90\degree) = 180\degree [/tex]

[tex] \therefore x\degree +25\degree + 45\degree +90\degree = 180\degree [/tex]

[tex] \therefore x\degree +160\degree = 180\degree [/tex]

[tex] \therefore x\degree = 180\degree-160\degree [/tex]

[tex]\huge\red {\therefore x\degree = 20\degree} [/tex]

2a+3b=5
b=a-5 help please

Answers

Answer:

2a + 3b = 5

b = a - 5

Step-by-step explanation:

2a + 3b = 5

b = a - 5

You can write this another way:

2a + 3(a-5) = 5 ( I added the second formula in the first one )

Now you gotta factor out:

2a + 3a - 15 = 5

Here im gonna do plus 15

2a + 3a = 20 ==> 5a = 20

Now if you divide by 5, you get: a = 4

Now you can fill in the second formula again

b = a - 5 (ill fill this in now)

b = 4 - 5 = -1

So, this makes:

a = 4 , b = -1

Answer:

a = -2

b = -7

Step-by-step explanation:

the best method to solving this system of equations would be substitution since you are given an expression that equals one of the variables you're solving for (which is b = a - 5)

to begin, plug in a - 5 for b in the equation 2a + 3b = 5.

2a + 3b = 5 ⇒ 2a + 3(a - 5) = 5

the next step is to distribute 3 to a - 5. start with distributing 3 to a, which is just multiplying 3 · a. after that, you're left with a minus sign and 5, so that sign gets attached to the 5 and makes it a -5. distribute 3 to -5, which is just multiplying 3 · -5.

2a + 3(a - 5) = 5 ⇒ 2a + 3a - 15 = 5

since you have two terms with the variable a on one side of the equation (2a and 3a), combine the two like terms.

2a + 3a - 15 = 5 ⇒ 5a - 15 = 5

add 15 to both sides of the equation. on the left side, -15 and 15 cancel each other out because -15 + 15 = 0, leaving you with only 5a. on the right side of the equation, you have 5 - 15, which equals -10.

now your equation is 5a = -10.

divide both sides of the equation by 5. on the left side of the equation, you have 5a/5, which equals 1a, or a. on the right side, you have -10/5, which equals -2.

therefore a = -2.

now plug in -2 for a in b = a - 5 in order to solve for b!

b = a - 5 ⇒ b = -2 - 5

subtract -2 - 5.

b = -2 - 5 ⇒ b = -7

therefore b = -7.

your solutions are a = -2 and b = -7 :) i hope this helps! have a great day <3

plzzzzzzzzzzz help. ​

Answers

Answer:

D. The area of the triangle is 9 square feet, because the area of the rectangle is 18 square feet.

Step-by-step explanation:

Roberto earns $6.50 per hour. He worked 32 hours at the regular rate, 8 hours at a time and a half, and 8 at double time. How much did he earn?

Answers

Answer $390

Step-by-step explanation:

Answer:

$390

Step-by-step explanation:

First Roberto works 32 hours at 6.50 per hour. At that time, he earn 32*6.5 = $208. Then he works 8 hours at a time and a half. This means that his pay rate is 50% more, or 6.5*1.5 = $9.75 per hour. Since he worked 8 hours at this pay rate, he earns 8*9.75 = $78. And then he works 8 hours double time. This means his pay rate was doubled during that duration. 6.5*2 = 13, 13*8 = $104.

Total: 208 + 78 + 104 = $390

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