The owner of a soccer team and local stadium has, Ask an Expert

Economics

The owner of a soccer team and local stadium has commissioned a study that showed the demand by fans for stadium seats (per playing date) to be

P = 22 - 0.2Q

where P is the price of a ticket and Q represents the number of seats (expressed in thousands). The local stadium seats a maximum of 50,000 per game. Assume that all seats are identical. The current price has been set at $10 per ticket. How much revenue does the owner make at this current price?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91708925

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