Solve the Problem. -For Their Class Play, Ron Sold Student Tickets for $4.00

question 72

Multiple Choice

Solve the problem.
-For their class play, Ron sold student tickets for $4.00 each and Kathy sold adult tickets for $6.50 each. If their total revenue for 29 tickets was $141.00, then how many tickets did Ron sell?

• A)10 tickets
• B)21 tickets
• C)19 tickets
• D)15 tickets

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Definitions:

Market Price

The current price at which a good or service can be bought or sold in a marketplace.

User Cost

The cost of using a good or service, which includes the opportunity cost of choosing one alternative over others.

Present Value

The current worth of a future sum of money or stream of cash flows, given a specified rate of return.

Delayed Extraction

The postponement of resource or raw material extraction to achieve more efficient processing or higher market values at a later time.