The demand for tickets to the Katy Perry concert (Q) is given as follows: Q = 120,000minus−2,000P The marginal revenue is given as: MR = 60minus−.001Q The stadium at which the concert is planned holds 60,000 people. The marginal cost of each additional concert goer is essentially zero up to 60,000 fans, but becomes infinite beyond that point. Refer to Scenario 4. Given the information above, what are the profit-maximizing number of tickets sold and the price of tickets?

Q = 60,000

P = 30

Explanation:

Given:

Q = 120,000 - 2,000P

MR = 60 - 0.001Q

Number of people can hold = 60,000

Computation:

Q = 120,000 - 2,000P

2,000P = 120,000 - Q

P = [120,000 - Q]2,000

P = 60 - 0.0005Q

Total revenue(TR) = PQ

Total revenue(TR) = [60 - 0.0005Q]Q

So,

Profit-maximizing number

MR = MC , MC = 0

60 - 0.001Q = 0

Q = 60,000

P = 60 - 0.0005Q

P = 60 - 0.0005(60,000)

P = 60 - 30

P = 30

answer: kevoto

explanation: be healthy

there's 11 people for the 1st position. then, no matter who gets it, there's only 10 left for the second, and then 9 left for the third. 11 x 10 x 9 = 990.   the answer is there are 990 different ways the positions can be filled by these applicants