Use the table below to create a nonlinear model based on the table to answer the following questions) .
The Atlas Movies Theater is planning to reprice their ticket rates to maximize revenues. They have three classes of tickets: Classic, Silver, and Gold. The table below provides information on the average ticket sales, revenue and price elasticity on demand. They have a total seating capacity of 300. The table also provides the price range within which they plan to reduce their ticket rates.
-According to the nonlinear model, which of the following is the projected revenue figure for Classic tickets based on its new price?
A) $1,314.72
B) $1,116.03
C) $521.68
D) $1,312.52
Correct Answer:
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