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Marginal cost of providing entertainment

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Reference no: EM131438024

Customers attending basketball games at the local arena must pay for parking on the grounds and then pay for a ticket needed to enter the arena. The arena manager knows that the customers' demand for the event can be expressed collectively as P = 25 - 0.000625Q. This collective market demand curve adds up all individual demand curves, P=25-15Q.

What is the total the arena will make from parking fees if the marginal cost of providing entertainment is a constant MC = $10 per seat?

a. 180,000

b.  24,000

c. 15

d. 7.5

Reference no: EM131438024

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