Profit maximize exercise

# Profit maximize exercise - Profit Maximization Exercise...

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Profit Maximization Exercise ADAM S GOIT Section (2pm or 3:30pm): Cost data Ticket Demand Data Concession Demand Data Daily Volume Daily Total Costs Monthly Volume Price Daily Revenue Ticket Price 6.34 126 \$799 29,265 \$- \$2,055.93 \$- 4.92 166 \$816 20,765 \$0.50 \$1,062.13 \$0.50 3.47 246 \$854 14,735 \$1.00 \$548.72 \$1.00 2.49 370 \$921 10,746 \$1.46 \$283.48 \$1.50 1.98 500 \$992 7,419 \$2.00 \$146.45 \$2.00 1.67 656 \$1,098 5,264 \$2.50 \$75.66 \$2.50 1.39 986 \$1,373 3,735 \$3.00 \$39.09 \$3.00 Daily demand Ticket price Daily Ticket Revenue 976 \$- - 692 \$0.50 \$346.09 491 \$1.00 \$491.15 358 \$1.46 \$522.98 247 \$2.00 \$494.57 175 \$2.50 \$438.67 125 \$3.00 \$373.52 (hint: use the estimated demand function below relating ticket price to concession sales) Daily ConcessionTicket Price \$2,055.93 \$- \$1,062.13 \$0.50 \$548.72 \$1.00 \$283.48 \$1.50 \$146.45 \$2.00 \$75.66 \$2.50 \$39.09 \$3.00 3. As chart #3, combine charts #1 and #2 into a single chart. 4.
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## This note was uploaded on 03/20/2011 for the course MANEC 437 taught by Professor Benson during the Winter '11 term at BYU.

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