A baseball team plays in a stadium that holds 60000 spectators. With the ticket price at...

A baseball team plays in a stadium that holds 60000 spectators. With the ticket price at $11 the average attendence has been 25000. When the price dropped to $9, the average attendence rose to 30000. Assume that attendence is linearly related to ticket price.

What ticket price would maximize revenue? $_______

Expert Solution

milcah answered 2 years ago

A baseball team plays in a stadium that holds 66000 spectators. With the ticket price at...

A baseball team plays in a stadium that holds 66000 spectators. With the ticket price at $11 the average attendance has been 27000. When the price dropped to $10, the average attendance rose to 33000. Assume that attendance is linearly related to ticket price. What ticket price would maximize revenue?

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