What maximum income might be expected

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Entertainment A theater has been staging children's plays during the summer. The average attendance at each performance is 400 people and the cost of a ticket is $3. Next summer, they would like to increase the cost of the tickets, while maximizing their profits. The director estimates that for every $1 increase in ticket price, the attendance at each performance will decrease by 20. What price should the director propose to maximize their income, and what maximum income might be expected?

Reference no: EM131352094

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