6. A dinner concert is held in Salzburg to raise funds for a local music school. The event organiser pays $8,000 to rent
Posted: Tue Sep 07, 2021 7:46 am
6. A dinner concert is held in Salzburg to raise funds for
a local music school. The event organiser pays $8,000 to rent a
venue and $12,000 to hire the musicians, as well as an additional
fee of $40 per concert-goer to cover the cost of food and drink.
The tickets are sold at $200 each.
(a) Define an appropriate variable x, and write down
the cost function C(x) for the event organiser.
(b) Write down the revenue function R(x) for the
event organiser.
(c) Find the number of concert-goers needed for the
organiser to break even.
(d) Find how many people must attend the concert for the
organiser to realise a profit of $8,000.
a local music school. The event organiser pays $8,000 to rent a
venue and $12,000 to hire the musicians, as well as an additional
fee of $40 per concert-goer to cover the cost of food and drink.
The tickets are sold at $200 each.
(a) Define an appropriate variable x, and write down
the cost function C(x) for the event organiser.
(b) Write down the revenue function R(x) for the
event organiser.
(c) Find the number of concert-goers needed for the
organiser to break even.
(d) Find how many people must attend the concert for the
organiser to realise a profit of $8,000.