Answered

Discover answers to your most pressing questions at Westonci.ca, the ultimate Q&A platform that connects you with expert solutions. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform. Get immediate and reliable solutions to your questions from a community of experienced professionals on our platform.

A football team charges $30 per ticket and averages 20,000 people per game. Each person spend an average of $8 on concessions.For everydrop of $1 in price,the attendance rises by 800 people.What ticket price should the team charge to maximize total revenue? Calculate the TR max.

Sagot :

francocanacari

The ticket price that would maximize the total revenue would be $ 23.

Given 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
  • 28,000 x 20 + 28,000 x 8 = 784,000
  • 26,000 x 22.5 + 26,000 x 8 = 793,000
  • 27,200 x 21 + 27,200 x 8 = 788,000
  • 26,400 x 22 + 26,400 x 8 = 792,000
  • 25,600 x 23 + 25,600 x 8 = 793,600
  • 24,800 x 24 + 24,600 x 8 = 792,000

Therefore, the ticket price that would maximize the total revenue would be $ 23.

Learn more in https://brainly.com/question/7271015

Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. We hope our answers were useful. Return anytime for more information and answers to any other questions you have. We're glad you visited Westonci.ca. Return anytime for updated answers from our knowledgeable team.