The owner of a baséball team and local stadium has Question 2. 7. commissioned a study that showed the demand by fans for stadium seats (per playing date) to be P- 22 - 0.2Q, where P is the average price of a ticket and Q represents the number of seats (expressed in thousands). The local stadium seats a maximum of 56,000 per game. Suppose the owner offers you 10% of the revenues. If you can only choose a uniform per-ticket price, what is the maximum amount you can earn per game? (Note: Assume that all seats and all games are the same in this problem.)

The owner of a baséball team and local stadium has Question 2. 7. commissioned a study that showed the demand by fans for stadium seats (per playing date) to be P- 22 - 0.2Q, where P is the average price of a ticket and Q represents the number of seats (expressed in thousands). The local stadium seats a maximum of 56,000 per game. Suppose the owner offers you 10% of the revenues. If you can only choose a uniform per-ticket price, what is the maximum amount you can earn per game? (Note: Assume that all seats and all games are the same in this problem.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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