Applications

Suppose the demand equation for all-day passes to an amusement park is given by
p = 70 – 0.02q, where p is the price of the pass in dollars and q is the number of people attending at that price.

a. What price corresponds with an attendance of 3000 and what is the total revenue at that price?

b. Write the revenue function as a function of attendance and then determine the attendance that will maximize the revenue.