At a Large Institution of Higher Learning, the Demand for Football

question 40

Multiple Choice

At a large institution of higher learning, the demand for football tickets at each game is 100,000 - 6,000p.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)$16.67
• B)$8.33
• C)$6.67
• D)$4.17
• E)$25

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Definitions:

Observational Learning

A learning process where individuals learn by watching the behaviors of others and the consequences of those behaviors, as proposed by Albert Bandura.

Reinforcement

In behavioral psychology, a process that increases the likelihood of a behavior by applying a stimulus after the behavior occurs.

Bobo Doll Studies

A series of experiments conducted by Albert Bandura that demonstrated that children could learn aggressive behaviors through the observation of adult models.

Aggressive

Behavior characterized by assertiveness, hostility, and possibly harm towards others, stemming from various motivational or environmental factors.