KINS 4520 Lecture Notes - Lecture 1: Marginal Cost, Monopsony, Product Bundling

• School: University of Georgia
• Department: Kinesiology
• Course: KINS 4520
• Professor: Slonaker

Document Summary

Pricing strategies: important financial decision is to set the price charged for each of its products, basic economics: If team charges high price, it is likely that fewer units will be sold. If team charge low price, then more units will be sold: we discussed demand is affected by many factors. In this way far more people can afford to attend a game: ticket prices, most cases, prices set by team. Estimate demand and then price tickets accordingly to be sure that the maximum number of fans will attend: prices are changed as team executives receive feedback or observe attendance trends, has become more expensive . In 2017 for red sox - average. In 1991 it was . 33 (adjusted to . 10 for inflation) Premium seating more volatile in nba: nhl has seen very little variation (not even at inflation).