Westonci.ca makes finding answers easy, with a community of experts ready to provide you with the information you seek. Connect with a community of experts ready to provide precise solutions to your questions on our user-friendly Q&A platform. Our platform provides a seamless experience for finding reliable answers from a network of experienced professionals.
Sagot :
The price that would maximize total revenue would be $ 23.
As long as that a football team charges $ 30 per ticket and averages 20,000 people per game, and each person spend an average of $ 8 on concessions, and for every drop of $ 1 in price, the attendance rises by 800 people, to determine what ticket price should the team charge to maximize total revenue, the following calculation must be performed:
- 20,000 x 30 + 20,000 x 8 = 760,000
- 24,000 x 25 + 24,000 x 8 = 792,000
- 24,800 x 24 + 24,600 x 8 = 792,000
- 25,600 x 23 + 25,600 x 8 = 793,600
- 26,400 x 22 + 26,400 x 8 = 792,000
Therefore, the ticket price that would maximize the total revenue would be $ 23.
Learn more in https://brainly.com/question/25410625
Thanks for stopping by. We are committed to providing the best answers for all your questions. See you again soon. We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. Get the answers you need at Westonci.ca. Stay informed with our latest expert advice.