Comments on: How do you find the price for a ticket that will maximize revenue using quadratic equations? http://desdelaxarxa.net/ticket/how-do-you-find-the-price-for-a-ticket-that-will-maximize-revenue-using-quadratic-equations Tue, 22 May 2012 10:39:41 +0000 http://wordpress.org/?v=2.7 hourly 1 By: mumblyjoe1 http://desdelaxarxa.net/ticket/how-do-you-find-the-price-for-a-ticket-that-will-maximize-revenue-using-quadratic-equations/comment-page-1#comment-7195 mumblyjoe1 Mon, 15 Feb 2010 03:29:59 +0000 http://desdelaxarxa.net/ticket/how-do-you-find-the-price-for-a-ticket-that-will-maximize-revenue-using-quadratic-equations#comment-7195 riders = 12,000 - 400 * increase / 0.1 revenue = riders(1 + increase) substitue riders into bottom equation: revenue = (12,000 - 4000 * increase )(1 +increase) = 12000 + 8000 i-4000 i ^2 take the first derivative which is f ' (i) = 8000-8000i, solve for zero, that is either a max or min, here is a max, i = 1 dollar, check to see if it makes sense in the equation and if it is a local max. good luck<br><b>References : </b><br> riders = 12,000 - 400 * increase / 0.1

revenue = riders(1 + increase)

substitue riders into bottom equation:

revenue = (12,000 - 4000 * increase )(1 +increase)

= 12000 + 8000 i-4000 i ^2

take the first derivative which is f ‘ (i) = 8000-8000i, solve for zero, that is either a max or min, here is a max, i = 1 dollar, check to see if it makes sense in the equation and if it is a local max. good luck
References :

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