The city bus company usually transports 12000 riders per day at a ticket price of $1
The Acmeville Metropolitan Bus Service currently charges $0.77 for an all-day ticket, and has an average of 623 riders a day The bus company is not earning a profit, but according to their contract with the city, they cannot cut the number of buses on the road. Thev must therefore find a way to increase revenues The bus company is considering increasing the ticket price to S0.99. The marketing department's studies indicate this price increase would reduce usage to 359...
The Acmeville Metropolitan Bus Service currently charges $0.88 for an all-day ticket, and has an average of 623 riders a day. The bus company is not earning a profit, but according to their contract with the city, they cannot cut the number of buses on the road. They must therefore find a way to increase revenues. The bus company is considering increasing the ticket price to $1.1. The marketing department's studies indicate this price increase would reduce usage to 333...
The Acmeville Metropolitan Bus Service currently charges $0.77 for an all-day ticket, and has an average of 472 riders a day. The bus company is not earning a profit, but according to their contract with the city, they cannot cut the number of buses on the road. They must therefore find a way to increase revenues. The bus company is considering increasing the ticket price to $0.88. The marketing department's studies indicate this price increase would reduce usage to 208...
x Give Up? t Score: 10 of 19 > The Acmeville Metropolitan Bus Service currently charges $0.88 for an all-day ticket and is used by an average of 513 riders a day. The bus company is not earning a profit, but according to their contract with the city, they cannot cut the number of buses on the road. They must, therefore, find a way to increase revenues The bus company is considering increasing the ticket price to $0.99. The marketing...
Research provided to the management of a bus company, which provides an express bus service from the airport to the city centre, suggests that the absolute value of price- elasticity of demand for its service is 0.9 This implies that if the company were to lower the price of a bus ticket by 10% (a) Ticket revenue would rise by 9% (b) Ticket revenue would fall by 9% (c) The number of bus tickets sold would increase by 0.9% (d)...
You are the pricing manager for a bus tour company which sells tickets to tourists for bus tours of major cities. The current price for a bus tour is $10 per ticket. On average, you sell 10,000 tickets per month. You are contemplating raising the price for a ticket to $12 per ticket. You estimate that the number of tickets sold will fall to 9,000 tickets per month. Your variable costs are $3 per ticket. Your fixed costs are $50,000...
Question 6 (1 point) In a city with a medium sized population, the equilibrium price for a city bus ticket is $1.00, and the number of riders each day is 10,800. The short-run price elasticity of demand is -0.60, and the short-run elasticity of supply is 1.0. Estimate the short run linear supply and demand curves for bus tickets Qd - 17,280 - 6,480P Q. - 0.0 + 10,800P Qd - 17.280 - 6,480P Qs - 0.0 - 10,800P Qc...
A university is trying to determine what price to charge for tickets to football games. at a price of 30$ per ticket, attendance averages 40,000 people per game. every decrease of 3$ adds 10,000 people to the average number. every person at the game spends an average of 4.50$ on concessions. What price per ticket should be charged in order to maximize revenue? How Many people will Attend at that price?
A university is trying to determine what price to charge for tickets to football games. at a price of 28$ per ticket, attendance averages 40,000 people per game. every decrease of 4$ adds 10,000 people to the average number. every person at the game spends an average of 4.00$ on concessions. What price per ticket should be charged in order to maximize revenue? How Many people will Attend at that price?
Quality demanded Price (thousands of (dollars per ticket) tickets per week) 10 1 00 200 6 300 400 200 6) The table above provides information about the demand for tickets. Based on the information: a. What ticket price should you charge to maximize revenues? b. What is the elasticity of demand between $6 and 84, using the midpoint method? c. How does the price elasticity of demand change in size as the price goes down from $10 to $8. from...