Question

Concert Hall sells season tickets for six events at a price of $78. In pricing the tickets, the planners assigned the leadoff event a value of $23 because the program was an expensive symphony orchestra. The last five events were priced equally; 1,470 season tickets were sold for the 2013 season. Required: a. Calculate the theater's earned revenue after the first three events have been presented.

Answer 1

Answer: $66,150

Step-by-step explanation:

The leadoff event is priced at $23 out of the $78 and the rest of the 5 events will be priced equally.

This means that after the first event, the other 5 will cumulatively be valued at;

= (78 - 23)/5

= $11

The other events are priced at $11 each.

For the first 3 events therefore;

First event = $23 and the other 2 events are $11 each;

= 23 + 11 + 11

= $45

Tickets sold are 1,470;

Revenue from first 3 = 45 * 1,470

= $66,150