Mathematics, 13.10.2020 02:01 ghari112345
You have just opened a new nightclub, Russ' Techno Pitstop, but are unsure of how high to set the cover charge (entrance fee). One week you charged $7 per guest and averaged 345 guests per night. The next week you charged $10 per guest and averaged 300 guests per night.
(a) Find a linear demand equation showing the number of guests q per night as a function of the cover charge p. q(p) =
(b) Find the nightly revenue R as a function of the cover charge p. R(p) =
(c) The club will provide two free non-alcoholic drinks for each guest, costing the club $2 per head. In addition, the nightly overheads (rent, salaries, dancers, DJ, etc.) amount to $2,000. Find the cost C as a function of the cover charge p. C(p) =
(d) Now find the profit in terms of the cover charge p. P(p) = Determine the entrance fee you should charge for a maximum profit. p = $ per guest
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