Question
Bramell Park is an amusement park with an entrance fee that allows unlimited rides. Last year, the company sold 88,000 one-day admission tickets with an
Bramell Park is an amusement park with an entrance fee that allows unlimited rides. Last year, the company sold 88,000 one-day admission tickets with an average price of $125 and 30,000 three-day admission tickets with an average price of $280. The park management expects one-day admission ticket volume to decrease by 12 percent and three-day admission ticket volume to increase by 4 percent. At the same time, increased competition is expected to result in one-day ticket prices that are 15 percent lower than the current level and three-day ticket prices that are 10 percent lower than the current price.
Required: Estimate admission revenues for Bramell Park for the coming year.
Note: Do not round your intermediate calculationsStep by Step Solution
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