What maximum profit might be expected

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Reference no: EM131350174

Entertainment A theater has been staging children's plays during the summer. The average attendance at each performance is 400 people, and the cost of a ticket is $3. Next summer, the theater manager would like to increase the cost of the tickets, while maximizing profits. The manager estimates that for every $1 increase in ticket price, the attendance at each performance will decrease by 20.

a. What price should the manager propose to maximize profits?

b. What maximum profit might be expected?

Reference no: EM131350174

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