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Business, 27.06.2019 21:40 clairefc2019

Until recently, hamburgers at the city sports arena cost $1.80 each. the food concessionaire sold an average of 22 comma 000 hamburgers on game night. when the price was raised to $2.20, hamburger sales dropped off to an average of 18 comma 000 per night. (a) assuming a linear demand curve, find the price of a hamburger that will maximize the nightly hamburger revenue. (b) if the concessionaire had fixed costs of $2 comma 000 per night and the variable cost is $0.80 per hamburger, find the price of a hamburger that will maximize the nightly hamburger profit.

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