00:01
Okay, so we are going to be looking at the concept of profitability, given information pertaining to the classification of clients between the die -hard fans and the ordinary fans.
00:19
So based on the information for a concert, the die -hard funds, the die -hard fans are willing to pay $1 ,000.
00:31
$50 for the concert, you know, just put their figure of $150 for the concert, while the ordinary ticket would sell for $50, not the ordinary ticket, but the ordinary members were not that i had fans willing to pay only $50.
00:50
Another part of information that is given is that these 50 ,000 is the costs to be incurred.
01:06
$50 ,000 are the cost to be incurred for hosting up the concert.
01:16
So that includes all the costs for the band, lighting, security, etc.
01:23
Etc.
01:24
So how much profit basically will the concert promoter earn if they set the price of each ticket at $50? okay, so if the price is set at $50 and that there is 1 ,500 seats available, okay, is it going to 1 ,500, how what is going to be the profit if the price is set at $5 ,500 if the price is set at fifty dollars...