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.

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4 0

3 years ago

Jackson deposited $5,000 at 3.8% interest, compounded continuously, when he was 18 years old. How much will be in the account wh

Ivahew [28]

5,000 × 3.8%= 19,000×18= 342,000 × 40 = 13,680,000

6 0

4 years ago