Business, 03.07.2020 23:01 corbinwilliams
The demand for tickets to the Katy Perry concert (Q) is given as follows: Q = 120,000minus−2,000P The marginal revenue is given as: MR = 60minus−.001Q The stadium at which the concert is planned holds 60,000 people. The marginal cost of each additional concert goer is essentially zero up to 60,000 fans, but becomes infinite beyond that point. Refer to Scenario 4. Given the information above, what are the profit-maximizing number of tickets sold and the price of tickets?
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The demand for tickets to the Katy Perry concert (Q) is given as follows: Q = 120,000minus−2,000P Th...
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