05 Question (s points) a See page 246 A semiprofessional baseball team near your

Question

05 Question (s points) a See page 246 A semiprofessional baseball team near your town plays two home games each month at the local baseball park. The team splits the concessions 50/50 with the city but keeps all the revenue from ticket sales. The city charges the team $200 each month for the three-month season. The team pays the players and manager a total of $1500 each month. The team charges $10 for each ticket, and the average customer spends $8 at the concession stand. Attendance averages 50 people at each home game. 6th attempt Part 1 (4 points) ? See Hint The team earns an average of S 700 in revenue for each game and S 4200 of revenue each season. With total costs of S 5100 each season, the team finishes the season with S -900 of profit.

Explanation / Answer

Part 1)

Average each game revenue = revenue from selling ticket + Concession.

                                         = 8*50 + 50

                                          = $ 450

One season total game played = 6

Total Revenue = 450 *6

                            = 2700

with Total Cost of each game $ = 100 + 750

                                     = $ 850

Total cost of season = 850 *6

                                   = 5100

Profit = 2700 – 5100

                = - 2400

Part B )

Price per ticket should be increased by $ 8 ( 400/50)

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