Use the table below to create a nonlinear model based on the table to answer the following question(s).
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, what is the new price for Silver tickets?
A)$7.40
B)$12.17
C)$11.50
D)$12.50

Question

Use the table below to create a nonlinear model based on the table to answer the following question(s).
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, what is the new price for Silver tickets?
A)$7.40 
B)$12.17 
C)$11.50 
D)$12.50

Quizplus · Accepted Answer

The nonlinear model predicts the new price for Silver tickets as $12.17.

Use the Table Below to Create a Nonlinear Model Based