Use the Table Below to Create a Nonlinear Model Based

question 17

Multiple Choice

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. $$\begin{array} {| l | l | l | l | l | l | l | } \hline \begin{array} { l } \text { Atlas Mavie } \\\text { Theater } \\\text { Ticketing }\end{array} & & & & & & \\\hline & & & & & & \\\hline \text { Data } & & & & & & \\\hline & & & & & & \\\hline \text { Ticket Class } & \begin{array} { l } \text { Current } \\\text { Rate }\end{array} & \begin{array} { l } \text { Avernge } \\\text { Daily } \\\text { Sald }\end{array} & \text { Elasticity } & \begin{array} { l } \text { Tatal } \\\text { Seating } \\\text { Capacity }\end{array} & { \text { Price Range } } \\\hline \text { Classic } & \$ 8.45 & 150 & - 1.5 & 300 & \$ 6.50 & \$ 7.50 \\\hline \text { Silver } & \$ 13.25 & \mathbf { 8 0 } & - 2 & & \$ 1.50 & \$ 12.50 \\\hline \text { Gald } & \$ 17.50 & \mathbf { 3 0 } & - 1 & & \$ 15.50 & \$ 16.50 \\\hline\end{array}$$
-According to the nonlinear model, which of the following is the projected sales figure for Gold tickets at the new price?

• A) 32
• B) 90
• C) 33
• D) 178

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Definitions:

Earned Fees

Revenue generated from providing services or performing work.

Adjusting Entry

A journal entry made in accounting records to update the balances of accounts at the end of an accounting period.

Accrued Salaries

Salaries that have been earned by employees but have not yet been paid by the employer.

Reversing Entries

Journal entries made at the beginning of an accounting period to reverse or cancel out adjusting entries made in the previous period.