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No Name University has a successful football team, the Lethargic Leeches, and sells tickets to students, alumni, and the public. Experience has shown that attendance has followed the demand relationship: Q-28,000 - 2,000P 4. a.If No Name U charges $7 per ticket, predict attendance (Q) 1 point c. Now, assume that the current capacity of the football stadium is 10,000 seats, what ticket price should be set for the stadium to be sold-out? 1 point

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Answer 4)

Given: Q 28,000 2,000P a) When P S7, Q 28,000 (2,000 x 7) -28,000 -14,000 - 14,000 c) When Q- 10,000 10,000 28,000 2,000P 2,000P 28,000 10,000 2,000P 18,000 P 18,000/2,000

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