Use the Table Below to Create a Nonlinear Model Based

question 27

Multiple Choice

Use the table below to create a nonlinear model based on the table to answer the following question(s) .
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 Classic tickets?

• A)$7.50
• B)$12.45
• C)$6.50
• D)$8.20

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