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Suppose the University of Kansas only has two type of fans who are willing to come to the games. Alumni (who already graduated and
Suppose the University of Kansas only has two type of fans who are willing to come to the games. Alumni (who already graduated and are already working on the job market) and Students (Those still at school who have to make ends meet on a student budget). Both of them are huge of KU's basketball team. Furthermore, KU knows their demand for basketball games (given below) Alumni: P = 150 - 4Q Students: P = 70-2.3Q Allen Fieldhouse's capacity is 16,300 fans a. How many tickets would KU sell to each type of fans if it wants to maximize their revenues? (Also give me the Total Revenue) b. In order to deal with the issue found on the previous answer, KU has Student Sections which can only be purchased by current KU students for a price of 10 dollars per ticket. The Student section can seat 4,000 fans. How many tickets is KU selling for each type of fan now? And how much Revenue is KU making?
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