A local university football team has ordera national

Answered question

2022-01-24

A local university football team has ordera national power to next yerar’s schedule.the order team has agreed to play the game guaranteed fee of $100000 .plus 25 percent of the gate receipts .assume the ticket price is $ 12 . (a) determine the number od tickets which must be sold to recover the $ 100000 guarantee. (b) if college official hope to net a profit of $2400000 from the game how many tickets must be sold .(c) if a sellout of 50000 fans is assured , what ticket price would allow the university to earn the desired profit of $ 240000. ( d) assuming a total sell out , what would total profit equal if the the $ 12price is charged.​

Answer & Explanation

xleb123

xleb123

Skilled2022-01-28Added 181 answers

a)In order to meet the required goal,the university must sell:$100,000+0.25x=240,000 worth of tickets. Thus they must sell: 100000+0.25x=240000 0.25x=140000 x=140000/0.25=$560,000 worth of tickets. b) $560000 tickets divided by 50000 fans equals $11.20 per ticket. c) 50,000 fans times $12 per ticket equals $600000 in sales. The profit would be .25 X $600000, or $150,000

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