Advertising
We have a concert coming up at the school and we want to know how much to spend on internet advertising. The more we advertise, the higher will be our revenue R from ticket sales, but of course, the higher we'll sell (up to a point), but also, the higher will be our advertising costs C. What should we do to maximize our profit
P=R-C
On the x-axis is the number of Kspots of advertising we buy (at $50 perKspot) and plotted against this are our cost and revenue.
The problem is to find the value of x that maximizes our profit.
Click this link to access a comprehensive playbook of this activity: Advertising Playbook