Business, 15.10.2019 17:30 random286

Until recently, hamburgers at the city sports arena cost $5.10 each. the food concessionaire sold an average of 19 comma 000 hamburgers on game night. when the price was raised to $5.60, hamburger sales dropped off to an average of 14 comma 000 per night. (a) assuming a linear demand curve, find the price of a hamburger that will maximize the nightly hamburger revenue. (b) if the concessionaire had fixed costs of $2 comma 000 per night and the variable cost is $0.70 per hamburger, find the price of a hamburger that will maximize the nightly hamburger profit.

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