Analyze different ticket pricing strategies for the sports industry and discuss the most important factors in the decision making process.
1.Ticket pricing can be viewed as a commodity similar to the consumption of goods where prices reflect marginal utility. ( Marginal utility vs total utility ) (maximizing utility)
2. Assume the objective of all firms (teams) is to maximize profits. ( economic of scales) ( maximizing attendance, ticket sales, experience )
3. Suppose owners of pro basketball team were forced to pay an increase in state taxes due to local government sanctions. how might this effect ticket sales for games?
*Include a graph, chart or table on the production and costs of any sport team discussed within essay*