Use the Following Data to Answer Questions 77-87

question 48

Multiple Choice

Use the following data to answer questions 77-87.
-Refer to the data on Expected Demand for Acme Widgets.For the various demand scenarios and their associated probabilities,the option to build has an expected value of ______.

• A)$27.80 million
• B)$31.40 million
• C)$41.60 million
• D)$52.55 million

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Definitions:

Revenue-maximizing Price

The price point at which a business can generate the highest total revenue, considering the impact of price changes on sales quantity.

Football Tickets

Admissions to attend a football game, typically purchased and used to gain entry to a stadium where the game is played.

Demand Function

A mathematical expression that describes the relationship between the quantity demanded of a good and its determining factors, such as price, income, and prices of related goods.

Stadium Capacity

The maximum number of spectators that a stadium can accommodate, often determined for safety, comfort, or regulations.