A university is trying to determine what price to charge for tickets to football games. At a price of ​$21 per​ ticket, attendance averages 40,000 people per game. Every decrease of $3 adds 10,000 people to the average number. Every person at the game spends an average of $4.50 on concessions. What price per ticket should be charged in order to maximize​ revenue? How many people will attend at that​ price?

What is the price per​ ticket?

What is the average​ attendance?

At a certain refinery, the refining process requires the production of at least two gallons of gasoline for each gallon of fuel oil. To meet the anticipated demands of winter, at least three million gallons of fuel oil a day will need to be produced. The demand for gasoline, on the other hand, is not more than 6.4 million gallons a day. If gasoline is selling for $1.90 per gallon and fuel oil sells for $1.50/gal, how much of each should be produced in order to maximize revenue?

A monopolistically competitive firm faces the inverse demand curve P = 100 – Q, and its
marginal cost is constant at $20. The firm is in long-run equilibrium.
a. Graph the firm's demand curve, marginal revenue curve, and marginal cost curve. Also, identify the profitmaximizing
price and quantity on your graph.
b. What is the value of the firm's fixed costs?
c. What is the equation for the firm's ATC curve?
d. Add the ATC curve to your graph in part a.

A university is trying to determine what PRICE to charge for football tickets. At a price of $6 per ticket, it averages 70,000 people per game.
For every increase of $1, it loses 10,000 people from the average number . Every person at the game spends an average of$1.50 on concessions.

a) What price per ticket should be charged to MAXIMIZE REVENUE? ( Please explain the steps )

b) How many people will attend at that price? Please show your work.

Correlation(Part 1)-Week 11 -compute r,r2 and 1-r2 for the problem below .What does r,r2 and 1-r2 mean ? Is the correlation strong or weak ?

You are given the following data:

   X(Independent Variable) Y(Dependent variable)

Month Advertising Expenditure (in Millions of $) Sales Revenue (in Millions of $)

July 1 3

August 2 7

September 3 5

October 4 11

November 5 14

This is an Accounting Information System assignment

Identity and explain these 5 principles important to Accounting Information System reliability.

A function of an Accounting Information System is to provide internal controls to ensure data integrity. What is meant by the term internal control?

Identify and explain 3 main types of internal control.

Outline a control in the revenue cycle which could be relied on to ensure that all sales are properly captured in a manual Accounting System and therefore enhance data integrity.

A perfectly competitive firm faces a market-determined price of $30 for its product. Fill in columns and answer the question below.

The competitive firm should produce _____ units to maximize profit.

Suppose that the market demand for expensive steak dinners is given​ by:

Q = 1,000−10P​,

so that the marginal revenue​ is:

MR = 100−0.2Q​,

where Q is the number of steak dinners per day and P is the price of a dinner. The marginal cost and average total cost are both constant and equal to ​$40 per dinner.

Suppose that there is only one firm in the market.

The quantity that the firm produces will be how many dinners?

The price set by the firm will be?

The​ firm's economic profit is?

Consider the following information on the production of basketballs. Demand: P = 10 – Q; Marginal Revenue = 10 – 2Q; Marginal Cost = 1 + Q. In a competitive market, what would the price and quantity be? Now assume this is a monopolistic market. What quantity will the monopolist produce? How much will it charge? Again, assume this is a monopolistic market. Calculate the deadweight loss to society (Hint: the area of a triangle is 0.5*B*H, where B = the base of the triangle and H = the height of the triangle).