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Question 1032378: A local university football team has added a national power to next year's schedule.The other team has agreed to play the game for a guaranteed fee of $ 100,000 plus 25 percent of the game receipts
a) If college officials hope to net a profit of $240,000 from the game, how many tickets must be sold?
b) If a sellout of 50,000 fans is assured,what ticket price would allow the university to earn the desired profit of $ 240,000?
c) Again assuming a sellout, what would total profit equal if the $ 12 price is charged?
Answer by jorel555(1290)   (Show Source):
You can put this solution on YOUR website! a)In order to meet the required goal,the university must sell:$100,000+.25x=240,000 worth of tickets. Thus they must sell:
100000+.25x=240000
.25x=140000
x=140000/.25=$560,000 worth of tickets.
b)$560000 tickets divided by 50000 fans equals $11.20 per ticket.
c)50,000 fans times $12 per ticket equals $600000 in sales. The profit would be .25 X $600000, or $150,000!!!!!!!!
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