Bramell Park is an amusement park with an entrance fee that allows unlimited rides. Last year, the company sold 105,000 one-day admission tickets with an average price of $142 and 38,500 three-day admission tickets with an average price of $314. 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 calculations. one day ticket: three day ticket:
Bramell Park is an amusement park with an entrance fee that allows unlimited rides. Last year, the company sold 105,000 one-day admission tickets with an average price of $142 and 38,500 three-day admission tickets with an average price of $314. 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 calculations.
one day ticket:
three day ticket:
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