Use the Table Below to Create a Nonlinear Model Based

question 51

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, which of the following is the projected revenue figure for Silver tickets based on its new price?

• A)$1,163.02
• B)$1,132.08
• C)$1,224.63
• D)$1,316.92

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Definitions:

Normative Social Influence

The influence of other people that leads us to conform in order to be liked and accepted by them.

Social Approval

The positive recognition, acceptance, or endorsement by others in a social context.

Clarify Reality

The process of making situations, expectations, or concepts more understandable and clear, often used in counseling or educational settings.

Normative Social Influence

The influence to conform with the positive expectations of others, often to gain approval or avoid social sanctions, unrelated to actual beliefs or facts.