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, what is the new price for Gold tickets?
A) $16.50
B) $15.50
C) $16
D) $16.11
Correct Answer:
Verified
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