M
Mizzie
Guest
Movie ticket is 6 and there are 1000 tickets sold daily. Estimated price elasticity of demand is -1.5 and the theater is currently filled to 80 percent of capacity.
What ticket price will maximize revenue?
(I couldn't figure out a way to put the price and quantity into a function. Please explain the steps taken to get to this answer!)
What ticket price will maximize revenue?
(I couldn't figure out a way to put the price and quantity into a function. Please explain the steps taken to get to this answer!)