Home
Articles
Photos
Interviews
Forums
New posts
Search forums
Georgia Tech Recruiting
Dashboard
What's new
New posts
New profile posts
Latest activity
Chat
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Georgia Tech Athletics
Georgia Tech Football
Elasticity of Demand
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="Randy Carson" data-source="post: 868644" data-attributes="member: 766"><p><em>Elasticity of demand refers to the degree in the change in demand when there is a change in another economic factor, such as price or income.</em></p><p></p><p>Assume the following:</p><p></p><ul> <li data-xf-list-type="ul">Bobby Dodd seats 55,000</li> <li data-xf-list-type="ul">2021 Average Attendance = 35,000</li> <li data-xf-list-type="ul">Price per ticket = $50</li> </ul><p>35,000 x $50 = $1,750,000 in ticket sales revenue per home game.</p><p></p><p>What if:</p><p></p><p>$1,750,000 / 55,000 = $32/ticket</p><p></p><p>Could we lower ticket prices, fill the stadium and have the place rocking for every game? Concession sales go up, etc. But this assumes that there is elasticity of demand. What if we lowered prices, seats filled did not increase, and all we did was lower our revenue per game?</p><p></p><p>Thoughts?</p></blockquote><p></p>
[QUOTE="Randy Carson, post: 868644, member: 766"] [I]Elasticity of demand refers to the degree in the change in demand when there is a change in another economic factor, such as price or income.[/I] Assume the following: [LIST] [*]Bobby Dodd seats 55,000 [*]2021 Average Attendance = 35,000 [*]Price per ticket = $50 [/LIST] 35,000 x $50 = $1,750,000 in ticket sales revenue per home game. What if: $1,750,000 / 55,000 = $32/ticket Could we lower ticket prices, fill the stadium and have the place rocking for every game? Concession sales go up, etc. But this assumes that there is elasticity of demand. What if we lowered prices, seats filled did not increase, and all we did was lower our revenue per game? Thoughts? [/QUOTE]
Insert quotes…
Verification
What is the last name of the current Head Football Coach?
Post reply
Home
Forums
Georgia Tech Athletics
Georgia Tech Football
Elasticity of Demand
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…
Top