The Maize Eagles are evaluating ticket prices for its basketball games. Studies show that Friday and Saturday night games average more than twice the number of fans compared to other days. The following information pertains to the stadium's normal operations per season:
The stadium is open for 4 operating hours on each day a game is played. All employees work by the hour except for the administrators. A maximum of one game is played per day and each fan has only one ticket per game.
The stadium authority wants to charge more for games on Friday and Saturday. What is the minimum price that should be charged for peak attendance nights?
Definitions:
Cease-And-Desist Order
A legal order issued by a government agency or court directing a person or entity to stop engaging in a particular activity.
Counteradvertising Order
A directive, often issued by a court or regulatory agency, requiring a business to advertise against its own previous misleading advertisements to correct public misinformation.
Substantiated
Supported with evidence or proof; verified as being true, accurate, or justified.
Equal Credit Opportunity Act
A U.S. federal law that prohibits discrimination by lenders against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age, or because they receive public assistance.
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