Use the Table Below to Create a Nonlinear Model Based

question 40

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 Silver tickets?

• A)$7.40
• B)$12.17
• C)$11.50
• D)$12.50

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Definitions:

Work Sheet

An informal document used by accountants to prepare and adjust financial statements.

Current Ratio

A financial ratio indicating a firm's capability to meet its short-term liabilities using its available assets.

Short Term Liabilities

Financial obligations that are due within one year or within the normal operating cycle of the business.

Short Term Assets

Assets expected to be converted into cash or used within one year or one business cycle, whichever is longer.