00:01
When we had a ticket price of $10, the attendance was 27 ,000.
00:05
When the ticket dropped to $9, the attendance was 30 ,000.
00:09
We want to know what's going to maximize revenue.
00:11
So let's get our demand function.
00:15
Our slope is going to be, that's negative 3 ,000 over negative 1.
00:19
So we're looking at y equals negative 3 ,000x plus b.
00:23
Now i'm going to pick this ordered pair and go 27 ,000 equals negative 3 ,000 times 10 plus b, which means i can add 30 ,000 and i want to have b equaling to $57 ,000.
00:38
So my demand is going to be negative 3 ,000x plus 57 ,000...
