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A baseball team plays in a stadium that holds 55000

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Reference no: EM13589958

A baseball team plays in a stadium that holds 55,000 spectators. With ticket prices at $10, the average attendance had been 27,000. When ticket prices were lowered to $8, the average attendance rose to 33,000.

(a) Find the demand function, assuming that it is linear.

(b) How should ticket prices be set to maximize revenue?

Reference no: EM13589958

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