A 6000-seat theater has tickets for sale at $25 and $40. How many tickets should be sold at each price for a sellout performance to generate a total revenue of $172,500? The number of tickets for sale at $25 should be.

EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter15: Managing Short-term Assets
Section: Chapter Questions
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A 6000-seat theater has tickets for sale at $25 and $40. How many tickets should be sold at each price for a sellout
performance to generate a total revenue of $172,500?
The number of tickets for sale at $25 should be
Transcribed Image Text:A 6000-seat theater has tickets for sale at $25 and $40. How many tickets should be sold at each price for a sellout performance to generate a total revenue of $172,500? The number of tickets for sale at $25 should be
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Concept:

Revenue refers to the total amount of money a company earns from its sales of goods or services, over a specific period of time. It represents the top line of a company's income statement and is a measure of a company's ability to generate income from its operations. In other words, revenue is the income a business earns from its primary activities, before deducting operating expenses, taxes, and other costs. The revenue figure is an important indicator of a company's financial health and is closely watched by investors, analysts, and stakeholders.

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