Micro Economics For Today
Micro Economics For Today
10th Edition
ISBN: 9781337613064
Author: Tucker, Irvin B.
Publisher: Cengage,
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Chapter 9, Problem 20SQ
To determine

 The price discrimination of the football market.

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nee     Question 1. You are the pricing manager for a professional football team. Your stadium can seat 70,000 spectators. The marginal cost of selling another ticket (and thereby seating another spectator) is $0. Therefore, you are primarily interested in maximizing total revenue. For each of the following scenarios give the revenue-maximizing price. a. The demand for tickets at each game is 120,000 − 5,000p. b. The demand for tickets at each game is 120,000 − 4,000p. c. The demand for tickets at each game is 200,000 − 5,000p. d. The demand for tickets at each game is 180,000 − 4,000p.
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A Premier League football club estimates that whilst the price elasticity of demand for itsfirst-team fixtures is (–) 0.3, for second-team games the corresponding elasticity is (–)2.2. Provide an explanation for this difference in elasticities and advise the club how this might influence its pricing strategy.
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