In the Same Football Conference There Is Another University Where

question 13

Multiple Choice

In the same football conference there is another university where the demand for football tickets at each game is 100,000 - 8,000p.If the capacity of the stadium at that university is 60,000 seats, what is the revenue-maximizing price for this university to charge per ticket?

• A)$6.25
• B)$5
• C)$12.50
• D)$3.13
• E)$18.75

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Definitions:

Footing

An accounting term referring to the final total that appears at the bottom of a column of numbers or the process of adding up figures in a column.

Cross-footing

A method used in accounting to check the arithmetic accuracy of accounts by comparing the sums of the totals in the opposite directions.

Special Journals

Special journals are accounting tools used to record specific types of transactions in a more efficient manner, such as sales, purchases, cash receipts, and disbursements.

Monthly

Pertaining to or occurring once every month.