Asked by
Adrianna Alexis
on Dec 01, 2024Verified
In the same football conference there is another university where the demand for football tickets at each game is 180,000 - 10,000p.If the capacity of the stadium at that university is 100,000 seats, what is the revenue-maximizing price for this university to charge per ticket?
A) $4.50
B) $9
C) $8
D) $18
E) $27
Revenue-maximizing Price
The price point at which a business can generate the highest total revenue, considering the impact of price changes on sales quantity.
Football Tickets
Admissions to attend a football game, typically purchased and used to gain entry to a stadium where the game is played.
Demand Function
A mathematical expression that describes the relationship between the quantity demanded of a good and its determining factors, such as price, income, and prices of related goods.
- Receive enlightenment on demand functions and how to understand them thoroughly.
- Learn about the strategies for revenue enhancement in businesses and establish the premium pricing level.
Verified Answer
TR
Learning Objectives
- Receive enlightenment on demand functions and how to understand them thoroughly.
- Learn about the strategies for revenue enhancement in businesses and establish the premium pricing level.