Question
A university is trying to determine what price to charge for tickets to a football game. At a price of $24 a ticket, attendance averages
A university is trying to determine what price to charge for tickets to a football game. At a price of $24 a ticket, attendance averages 40,000 people per game. Every decrease of $4 adds 10,000 people to the average number. Every person at the game spends an average of $4.00 on concessions. What price per ticket should be charged in order to maximize revenue? How many people will attend at that price?
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Fundamentals of Engineering Economics
Authors: Chan S. Park
3rd edition
132775425, 132775427, 978-0132775427
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