Question

A university is trying to determine what price to charge for tickets to football games. At...

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?

Math   Calculus   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
A university is trying to determine what price to charge for tickets to football games. At...
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 university is trying to determine what price to charge for tickets to football games. At...
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 university is trying to determine what price to charge for tickets to football games. At a price of ​$20 per​ ticket, attendance averages 40,000 people per game. Every decrease of ​$4adds 10,000people to the average number. Every person at the game spends an average of ​$6.00 on concessions. What price per ticket should be charged in order to maximize​ revenue? How many people will attend at that​ price? What is price per ticket? What is the avergage attendence ?
The theater department wants to determine what price to charge for tickets to its next run...
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 price of $16 per ticket to a stadium football game, 40,000 people attend the...
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...
At a price of $16 per ticket to a stadium football game, 40,000 people attend the...
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...
At a large institution of higher learning, the demand for football tickets at each game is...
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?
Suppose the average student’s demand for a team's football tickets is as follows: Price $20 $14...
Suppose the average student’s demand for a team's football tickets is as follows: Price $20 $14 $10 $7 $5 Quantity 1 2 3 4 5 a. If this team is a profit maximizer and it can only sell single game tickets, what price will they charge, how many tickets will the average student buy, and how much profit will the college make per student (assuming MC = 0)? b. If this team is a profit maximizer but instead sells season-tickets...
1) A semiprofessional baseball team near your town plays two home games each month at the...
1) A semiprofessional baseball team near your town plays two home games each month at the local baseball park. The team splits the concessions 50/50 with the city but keeps all the revenue from ticket sales. The city charges the team $100 each month for the three-month season. The team pays the players and manager a total of $1000 each month. The team charges $10 for each ticket, and the average customer spends $6 at the concession stand. Attendance averages...
A baseball team plays in a stadium that holds 52,000 spectators. With the ticket price at...
A baseball team plays in a stadium that holds 52,000 spectators. With the ticket price at $10, the average attendance at recent games has been 33,000. A market survey indicates that for every dollar the ticket price is increased, the attendance decreases by 3,000. (a) Let x be the ticket price (in dollars). Find q(x) which represents how many people will attend the ballgame when the ticket price is x. (b) The ballpark’s revenue is R(x) = x · q(x)....
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT