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:
Fraudulent Misrepresentation
The act of intentionally making false statements to induce another party to enter into a contract, resulting in harm or damage.
Intentional Misrepresentation
Deliberate false statement by one party aimed at getting another party to enter into an agreement.
Mutual Mistake
An error made by both parties in a contract that can render the agreement void.
Negligent Misrepresentation
A false statement of material fact made by a person who thinks it is true but who would have known the truth about the fact had he or she used reasonable care to discover or reveal it.
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