Museum
How to write a parabola from a museum admitions question?
Ok, here is the question…. A museum has an admission fee of $14 and averages 300 visitors per day. The museum board decides to raise the fee. Research indicates that for every $1 increase, there would be 10 fewer visitors per day. What admission fee would maximize the revenue?
What im looking for is a complete answer with work written out, i am also wondering how make an equation for a porabola from the information given.
x = amount to raise admission fee
Revenue = (14+x)(300 – 10x) [That's fee times # of visitors]
R = -10x^2 +160x +4200
dR/dx = -20x +160 = 0 [Set dR/dx to 0 to find maximum
-20x = -160
x = 8
So 14+8 = $22 admissin fee maximizes revenue
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