Concertville is hosting a series of outdoor concerts in the park. The concert series will cost the city $500 to host. City officials expect the concert series to draw a crowd of 100 people, 20 of whom will free ride. Based on this information, how much should city officials charge for the concert series in order to cover the $500 expense?

$6.25 per person.

Explanation:

This can be calculated as follows:

Expected number of people = 100

Expected number of people that would free ride = 20

Number of expected people to pay = Expected number of people - Expected number of people that would free ride = 100 - 20 = 80

Cost to charge per person = Total cost / Number of expected people to pay = $500 / 80 = $6.25 per person.

Therefore,  city officials should charge  $6.25 per person for the concert series in order to cover the $500 expense.

what

explanation:

answer; by looking at total product,marginal product,and changes in both after changes in inputs