Use the Table Below to Create a Nonlinear Model Based

question 61

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 Gold tickets?

• A)$16.50
• B)$15.50
• C)$16
• D)$16.11

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