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The Louisiana Art & Science Museum is planning a fundraising gala. Attendees can tour a new exhibit by artist Lin Emery before it is unveiled
The Louisiana Art & Science Museum is planning a fundraising gala. Attendees can tour a new exhibit by artist Lin Emery before it is unveiled to the public. The gala also includes a cocktail reception. They estimate that security fees, wages for museum workers, etc. will amount to $22,500 in fixed costs. Question 7 Not yet answeredPoints out of 9.00 Flag question Question text Suppose they sell tickets for $100 per person and the catering company charges $25 per person in variable costs. How many tickets must the museum sell in order to break even? Answer: Question 7 Question 8 Not yet answeredPoints out of 9.00 Flag question Question text Now, suppose that the museum estimates, based on past events, that they will sell 250 tickets. What is the breakeven price (assuming fixed and variables costs are the same)
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