What price should be charged for movie tickets

Reference no: EM13245934

You run a chain of movie theaters, so you commission a marketing study that categorizes your potential customers into 10 equal-sized groups according to what they're willing to pay for a movie ($10,$9,$8,$7,$6,$5,$4,$3,$2,$1). It turns out that the low-value customer groups, those values ($5,$4,$3,$2,$1), are all over 65 years old. All the costs of exhibiting movies are fixed excepts for the $3.50 royalty payment you must make to the film distributor for each ticket sold. What price should you charge for movie tickets? Should you offer senior citizen discounts? If so, how much?

Reference no: EM13245934

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