1. How many of each type of ticket will be sold? 2. If every patron buys...

  

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1. How many of each type of ticket will be sold? 2. If every patron buys popcorn and a drink, how much will this add to profit for the theatre? 3. If, in addition to the amount in #2, half the patrons also buy candy and a hot dog, how much will that add to the theatre's profit? 4. If the only cost of an arcade game is the upfront fixed cost, how much is the marginal cost of having arcade games? What is the marginal profit? How much money does the theatre earn in marginal profit if 10% of the kids spend $4 on games? Pricing: Adults = $12 Seniors = $10 Kids = $8 Demand Functions P(A) 130 -0.01Q(A) P(S)= 40 -0.01Q(S) P(K)=58-0.01Q(K) Price of popcorn = $5 Price of drink $3 Price of candy = $3 Price of hot dog = $4 Marginal cost of popcorn = 4% Marginal cost of candy = 40% Marginal cost of drinks = 20% Marginal cost of hot dogs = 30% 1. How many of each type of ticket will be sold? 2. If every patron buys popcorn and a drink, how much will this add to profit for the theatre? 3. If, in addition to the amount in #2, half the patrons also buy candy and a hot dog, how much will that add to the theatre's profit? 4. If the only cost of an arcade game is the upfront fixed cost, how much is the marginal cost of having arcade games? What is the marginal profit? How much money does the theatre earn in marginal profit if 10% of the kids spend $4 on games? Pricing: Adults = $12 Seniors = $10 Kids = $8 Demand Functions P(A) 130 -0.01Q(A) P(S)= 40 -0.01Q(S) P(K)=58-0.01Q(K) Price of popcorn = $5 Price of drink $3 Price of candy = $3 Price of hot dog = $4 Marginal cost of popcorn = 4% Marginal cost of candy = 40% Marginal cost of drinks = 20% Marginal cost of hot dogs = 30%

Answer rating: 100% (QA)

1 How many of each type of ticket will be sold Given the demand functions QA 130 001PA 130 00112 130 ... View the full answer