VB: Ticket Pricing Simulation Assessment #1

Revenue

• different prices for goods services to maximize profit

• amount of goods and services customers want

• money collected in sales ($ x # sold) and what stadiums want to maximize

• none

The amount of money charged for one unit.

• Price

• Revenue

• Dynamic pricing

The amount of goods or services that customers want to buy. Price is effected by this term.

• marginal cost

• ticket brokers

• price

• demand

Companies that stadiums owners use to manage their ticket sales.

• Ticket brokers

• Ticket agencies

Individuals or companies who purchase tickets in bulk to artificially constrict demand and drive up prices.

• Dynamic pricing

• Demand

• Ticket brokers

• Ticket agencies

Different prices for the best seats to maximize revenues is called

• demand

• prices

• yield management pricing

Dynamic pricing is fluid and minute to minute pricing- the price can change all the way up to an event starts depending on the demand.

• T

• F

The cost of producing an additional number of seats

• Ticket pricing

• Marginal cost

• Demand

What is one benefit of dynamic pricing?

• It prevents extra fees

• It reduces overhead

• It reduces the number of unsold tickets

• All of the above

If a stadium has 20,000 seats sold at $14.50 each, how much can be made if the stadium sells out?

• $150,00

• $250,000

• $275,000

• $290,000