Question

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Question Help Until recently, hamburgers at the oity sports arena cost $2.50 each. The food concessionaire sold an average of 1,750 hamburgers on game night. When the price was raised to $3.00, hamburger sales dropped off tor an average of 1,500 per night. The concessionaire's fixed costs were $2.559.40 per night and the variable cost was $0.84 per hamburger Find the profit function, P(x) Px)-0002x 5.16x-2,559 40 Question is complete. Tao on the red indicators to see incorrect answers

Answer 1

Untl uenll hambugere The food Whn ebrice waj raed to $3-00 each, hambwiqer salu S00 ber hight. at dly ^por5 arena cost 250 each. 1750 hamburgers on qame night drepped oft concessionaiwe &old an averaze of to an average of 2559.H0 per niqht and the variable cost wag f0.84 The eoneessionaire* ixed cost were p hamburger. .. total ost of Uhe Concsaionaine Fixed est +vari able ost = $ AsSg-4o+ $ 0.84x where x > no. of hamburger sold] n or der to find profik funckon, ,we nud to construet a demand eurve. The dala that w have io hat: o When x = /7S0 and when pice p(x) 43. 00, x * I500. torm Curveof Lt wo aooume that e demand funeken is a linear demaud a t bx put h values Now let m 250 a 17S0 b 8.00 a 15D0 b that h two unknewns get a and b, We Selving equatione ) and a and b 500 X 500 funchon . he dumand is otal revenue-total eost x quanH)(tetal cat) (px n)-(253 (6 0.4) 59.40 0.84x 500 2559 400-84n 500 5.16-2559-A0 CS Scanned with CamScanner