A semiprofessional baseball team near your town plays two home games each month at the local baseball park. It splits the concessions 50-50 with the city, but it keeps revenue from ticket sales for itself. The city charges the team $100 each month for the three-month season. The team pays the players and manager a total of $1,000 a month. The team charges $10 for each ticket, and the average customer spends $7 at the concession stand. Attendance averages 30 people at each home game. In order to break even, how many tickets does the team need to sell for each game? 41 49 45 33 37

A semiprofessional baseball team near your town plays two home games each month at the local baseball park. It splits the concessions 50-50 with the city, but it keeps revenue from ticket sales for itself. The city charges the team $100 each month for the three-month season. The team pays the players and manager a total of $1,000 a month. The team charges $10 for each ticket, and the average customer spends $7 at the concession stand. Attendance averages 30 people at each home game. In order to break even, how many tickets does the team need to sell for each game? 41 49 45 33 37

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter6: Simple Pricing

Section: Chapter Questions

Problem 6MC

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Compare the firms least-cost rule with how buyers allocate their consumption dollars.
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