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Please show Excel steps and/or formulas ! You manage a movie theater that can handle up to 9,000 patrons per week. The current demand curve
Please show Excel steps and/or formulas !
You manage a movie theater that can handle up to 9,000 patrons per week. The current demand curve for ticket sales is as follows: Ticket(actualdemand):Demand=15000900Price The movie theater is also selling food and drink to movie patrons. Overall, 15% of those who buy a movie ticket also buy drink, and 20% of those who buy a movie ticket also buy food. The theater keeps 45% of the ticket revenues, 90% of the revenue from drink, and 100% of the revenue from food. The unit variable cost and current price levels are provided as follows (also in the data file). a. What is the theater's total profit at the current price levels? b. If the movie theater maximizes the profit from ticket sales, what is the optimal ticket price? c. If the movie theater maximizes the total profit from ticket, food, and drink, what is the optimal ticket price? What is the total profit? What's the percentage increase in profits compared to the current price levels? You manage a movie theater that can handle up to 9,000 patrons per week. The current demand curve for ticket sales is as follows: Ticket(actualdemand):Demand=15000900Price The movie theater is also selling food and drink to movie patrons. Overall, 15% of those who buy a movie ticket also buy drink, and 20% of those who buy a movie ticket also buy food. The theater keeps 45% of the ticket revenues, 90% of the revenue from drink, and 100% of the revenue from food. The unit variable cost and current price levels are provided as follows (also in the data file). a. What is the theater's total profit at the current price levels? b. If the movie theater maximizes the profit from ticket sales, what is the optimal ticket price? c. If the movie theater maximizes the total profit from ticket, food, and drink, what is the optimal ticket price? What is the total profit? What's the percentage increase in profits compared to the current price levelsStep by Step Solution
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