2. A football team has two kinds of fans. Adults demand Qa(p) = 1,000(100 – P) tickets when the price is P. Senior citizens demand Qs(p) = 1,000(60 – P). Marginal cost is equal to zero, and the stadium has capacity K. Find the profit-maximizing ticket prices when K< 80,000 and resale of tickets is impossible.
2. A football team has two kinds of fans. Adults demand Qa(p) = 1,000(100 – P) tickets when the price is P. Senior citizens demand Qs(p) = 1,000(60 – P). Marginal cost is equal to zero, and the stadium has capacity K. Find the profit-maximizing ticket prices when K< 80,000 and resale of tickets is impossible.
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Transcribed Image Text:2. A football team has two kinds of fans. Adults demand Qa(p) = 1,000(100 – P) tickets when
the price is P. Senior citizens demand Qs(p) = 1,000(60 – P). Marginal cost is equal to zero, and
the stadium has capacity K. Find the profit-maximizing ticket prices when K< 80,000 and resale
of tickets is impossible.
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