How should ticket prices be set so as to maximize revenue

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Reference no: EM13204370

A baseball team plays in a stadium that holds 55,000 spectators. With ticket prices at $10, the average attendance has been 27,000. When ticket prices were lowered to $8, the average attendance rose to 33,000. Find the demand function, assuming that it is linear. How should ticket prices be set so as to maximize revenue?

Reference no: EM13204370

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