The concert promoters of a heavy-metal band, WeR2Loud, know that there are two t

Question

The concert promoters of a heavy-metal band, WeR2Loud, know that there are two types of concert-goers: die-hard fans and casual fans. For a particular WeR2Loud concert, there are 1,000 die-hard fans who will pay $150 for a ticket and 500 casual fans who will pay $50 for a ticket. There are 1,500 seats available at the concert venue. Suppose the cost of putting on the concert is $50, 000, which includes the cost of the band, lighting, security, etc. How much profit will the concert promoters earn if they engage in price discrimination? $125,000 $100, 000 $175,000 $150, 000 The concert promoters of a heavy-metal band, WeR2Loud, know that there are two types of concert-goers: die-hard fans and casual fans. For a particular WeR2Loud concert, there are 1,000 die-hard fans who will pay $150 for a ticket and 500 casual fans who will pay $50 for a ticket. There are 1,500 seats available at the concert venue. Suppose the cost of putting on the concert is $50, 000, which includes the cost of the band, lighting, security, etc. How much profit will the concert promoters earn if they engage in price discrimination? $125,000 $100, 000 $175,000 $150, 000

Explanation / Answer

Profit=1000*150+500*50-50000=125000

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.