Question

Suppose you were deciding on a ticket price for a fundraiser dinner. There may be a temptation to continue to raise the ticket sales to increase the amount of money raised. Sounds like an okay idea to raise the most money possible for a charity. You may have heard of a guest speaker at a fundraising dinner where people are charged $100 a plate or more. What do you think is a realistic price for tickets? What are the consequences of raising the price $50 or $100 to $150 a plate or $200 a plate.

Answer 1

$50 per ticket.

Explanation:

Although it is tempting to keep raising the price for a higher profit, if you raise the price by too much, people will stop buying tickets and you will not gain as much money as you could have gotten with, say, $50 per plate.

The more you raise the price, the less tickets you can sell.

Hope this helps!