Determine what will be the impact on ticket sales

Assignment Help Econometrics

Reference no: EM13245697

A minor league baseball is in the process of determining its ticket pricing policy. Past data suggests the following ticket sales elasticities: ticket price: -0.6; refreshments price -0.2; local population 0.7
a) if the local pop increases from 60,000 to 61,500 what will be the impact on ticket sales? what if refreshment prices rise 40% on average?
b) currently fans pay ave ticket price $5 and consumes $4 worth of refreshments at the game. Management thinking of raising the ticket price to $5.50. Compute the % in 1) tickets sold 2) ticket revenue 3) total revenue from admissions and refreshment sales

Reference no: EM13245697

Questions Cloud

Find the heat required to melt the bullet : A 3.00 g lead bullet traveling at 650 m/s strikes a target, converting its kinetic energy into thermal energ, Find the heat required to melt the bullet

Compare quantities demanded between the old and new bundles : Suppose that the price of good x rises and price of good Y falls in such a way that the consumer's new optimal consumption bundle lies on the same indifference curse as his old bundle. Compare the quantities demanded between the old and new bundle..

Explain and outline synthesis for 1-penten-2-ol : Starting with 1-pentanoic acid and using any other reagents, outline synthesis for 1-penten-2-ol

Find the acceleration vector for the charge : A particle with mass 1.81×10?3kg and a charge of 1.22×10?8C has, at a given instant, a velocity v? =(3.00×104m/s)j^, Find the acceleration vector for the charge

Determine what will be the impact on ticket sales : currently fans pay ave ticket price $5 and consumes $4 worth of refreshments at the game. Management thinking of raising the ticket price to $5.50. Compute the % in 1) tickets sold 2) ticket revenue 3) total revenue from admissions and refreshment..

Explain manometer attached to a flask holding a gas : The barometric pressure was 768.6 mmHg when the open end manometer attached to a flask holding a gas read 13.0 mmHg. (mercury level highest on the side connected to the flask.) what is the pressure of the gas in the flask in kilopascals?1.00 atm =..

What is the investors holding-period yield : An investor is interested in purchasing a new 20-year government bond carrying a 10 percent annual coupon rate with interest paid twice a year. The bond's current market price is $875 for a $1,000 par value instrument.

What is the maximum transverse speed of the string : A transverse sinusoidal wave on a string has a period T = 45.0 ms and travels in the negative x direction with a speed of 30.0 m/s, What is the maximum transverse speed of the string

Provide two probable examples of why an mnc strategy : From the Blades' Assessment of an Acquisition in Thailand case study, develop a list of factors that Blades should consider in making its decision.

User Account

All Pages