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    Maximize Profit in Airline Tickets

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    Let q = demand for seats on a 500 seat airplane and p = price charged per ticket. Suppose that q = 600 - 3p and let's assume that the unit cost of flying a passenger is $50.00. To maximize profit from the flight, the airline should charge how much per ticket?

    a, $100
    b, $125
    c, $150
    d, $175

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    Solution Summary

    This solution shows how to calculate the ideal cost that an airline company should share for a particular ticket so as to maximize profits.