When the admission price for a baseball games was $4 per ticket, 40,000 tickets were sold. When the price was raised to $5, only 35,000 tickets were sold. Assume that the demand function is linear and that the variable and fixed costs for the ball park owners are $0.10 and $95,000 respectively. A) Find the profit P as a function of x, the number of tickets sold P(x)=
B) Select the graph of P
C) find the marginal profits when 20,000 tickets were sold and when 40,000 tickets were sold. P'(20,000)= $ Per ticket P'(40,000)= $ Per ticket

Answer and explanation:

A. profit P as a function of x, the number of tickets sold

P(x)= total revenue - total cost

For 40000 tickets at $4

=40000×4-0.10×40000+$95000

=$160000-$99000

=$61000

For 35000 tickets at $5

= 35000×$5-0.10×35000+$95000

= $175000-$98500

= $76500

B. P has a downward slope like a demand curve. Increase in price equal to decrease in profit.

C. P(40000)= $4-$0.10+$95000/40000

= $4-$2.475

= $1.525

Price for 20000 tickets was not stated in question but feel free to use an arbitrary price(price should be higher than that for 35000 tickets and 40000 tickets)

you are uyytr tyy

step-by-step explanation:

its c