Multiple Choice
Suppose that 20,000 fans will go to a ball game when the price of a ticket is $5.00, and that 500 fewer fans will go for each $1.00 increase in ticket price. By how much should ticket prices be increased (or decreased) in order to maximize revenue?
A) increase price by $17.50
B) increase price by $45.00
C) increase price by $22.50
D) decrease price by $1.00
Correct Answer:
Verified
Correct Answer:
Verified
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