Question

Maximizing Revenue from Wilderness Passes. Observe the graph to answer the following questions. 100 $100 Your state issues wilderness passes to people who hike, bike, and ski in wilderness areas. Its objective is to maximize the total revenue from the passes. The current price is $80. The demand for wilderness passes is linear, and a price of $100 would drive the quantity demanded to zero. $80 The point along the demand line where total revenue from the wilderness passes would be maximized has a y-axis coordinate of and an x-axis coordinate of (Enter your responses as an integer.) Price ($) At this point, demand is Demand 0 10 20 30 100 40 50 60 70 80 90 100 110 120 Wilderness Passes

Answer 1

EV PO bo_IBC0,100) 40- Price Demand 10 20 30 40 50 60 70 80 wild alrness A (100,0) 90 100 110 120 passes Here Demand function is calculated through slope of line formula Equation of line : y- y = slope (R-no) Slope = 42-41 12- y = Price = Demand Jy = 0 (from Point AD = P. u = 100 cfrom Point ® ) = 12 di = 100 cfman Point A) = 0 x2 = 0 chrom point ® ) = 0 Equation of sine = Demand function

Date 2-21 -100 Caathi) Here y = ? n a - P P = / B - P. I co-oi) = P = (100) (0-100) P = 100 - = Den and function Total Revenue = p.d _= (00-010 = 1001 - 22 for manimiration ol Total Revenue Iltal Revenue = IDO - 20 That is now putting derivative equal - > 100 - 20 =0 ₃ 7 → p = 100 - 2* p = 100 - 50 p* =50 Y -X coordinate coordinate = 50 = 50 Demand in so started with CamScanner