A baseball team plays in a stadium that holds 64,000 spectators. With the ticket price at $12 the average attendance has been 25,000. When the price dropped to $9, the average attendance rose to 32,000.
(a) Find the demand function p(x) where X is the number of spectators. (Assume p(x) is linear.)
p(x) =
(b) How should ticket prices be set to maximize revenue?
Price = $