Question

At a price of $16 per ticket to a stadium football game, 40,000 people attend the game. At $12 per ticket, 50,000 people attend the game. On average, everyone spends $4 on concessions. the capacity of the stadium is 60,000 people. With the information given we wish to construct the price function p(x) where x is the number of people in attendance. From this, we construct the revenue function R(x), the total amount of money taken at the stadium. WE then wish to find the number of people that we wish to attend that will maximize revenue, and finally the price to be charged per ticket to guarantee the maximum revenue. The capacity of the stadium is to be determined from the price function.

Answer #1

At a price of $16 per ticket to a stadium football game, 40,000
people attend the game. At $12 per ticket, 50,000 people attend the
game. On average, everyone spends $4 on concessions. the capacity
of the stadium is 60,000 people. With the information given we wish
to construct the price function p(x) where x is the number of
people in attendance. From this, we construct the revenue function
R(x), the total amount of money taken at the stadium. WE...

A university is trying to determine what price to charge for
tickets to football games. At a price of $30 per ticket,
attendance averages 40,000people per game. Every decrease of $3
adds 10,000 people to the average number. Every person at the game
spends an average of $3.00 on concessions. What price per ticket
should be charged in order to maximize revenue? How many people
will attend at that price?
What is the price per ticket?
What is the average...

A university is trying to determine what price to charge for
tickets to football games. At a price of $27 per ticket,
attendance averages 40,000 people per game. Every decrease of $3
adds 10,000 people to the average number. Every person at the game
spends an average of $4.50 on concessions. What price per ticket
should be charged in order to maximize revenue? How many people
will attend at that price?

A university is trying to determine what price to charge for
tickets to football games. At a price of $24 per ticket,
attendance average 40,000 people per game. Every decrease of $3
adds 10,000 people to the average number. Every person at the game
spends an average of $4.50 on concessions. What price per ticket
should be charged in order to maximize revenue? How many people
will attend at that price?

) A baseball team plays in a stadium that holds 58000
spectators. With the ticket price at $12 the average attendance has
been 23000. When the price dropped to $10, the average attendance
rose to 29000.
a) Find the demand function p(x), where xx is the number of the
spectators. (Assume that p(x)is linear.)
p(x)=
equation editor
Equation Editor
b) How should ticket prices be set to maximize revenue?
The revenue is maximized by charging $
equation editor
Equation Editor...

The theater department wants to determine what price to charge
for tickets to its next run of “Hamilton”. At a price of $18 per
ticket, attendance averages 40,000 people per run. Every decrease
of $3 to the ticket price adds 10,000 people to the average
attendance. Every person spends an average of $4.50 on concessions.
What price per ticket should be charged to maximize revenue? How
many people will attend at that price?

At
a large institution of higher learning, the demand for football
tickets at each game is 100,000-6,000p. If the capacity of the
stadium at that university is 60,000 seats, what is the revenue
maximizing price for this university to charge per ticket?

1. A baseball team plays in a stadium that holds 66000
spectators. With the ticket price at $10 the average attendance has
been 28000. When the price dropped to $8, the average attendance
rose to 33000.
a) Find the demand function ?(?)p(x), where ?x is the number of the
spectators. (Assume that ?(?)p(x) is linear.)
p(x)=
b) How should ticket prices be set to maximize revenue?
The revenue is maximized by charging $ per ticket.
2. A rectangular storage container...

The University of Michigan football stadium, built in 1927, is
the largest college stadium in America, with a seating capacity of
107,500 fans. Assume the stadium sells out all six home games
before the season begins, and the athletic department collects
$64.50 million in ticket sales.
Required:
1. What is the average price per season ticket
and average price per individual game ticket sold? (Enter
your answers in dollars, not in millions (i.e. $5.5 million should
be entered as 5,500,000).)...

The attendance (# of people) that attend a certain theater when
the ticket price is $xis given
by A(x)=0.0014x3−0.1762x2+3.0635x+225.7143.
At what price is attendance decreasing most rapidly?
What is the attendance level at this price (answer from
(a))?
At what rate is attendance decreasing at this price (answer from
(a))? Round your answer to three decimal places.
What are the correct units for the answer in part (c) above?

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