1. Harambee stars is planning to play football with Uganda Cranes at the Nyayo stadium. Uganda Cranes has agreed to play the game for a guaranteed fee of $ 100,000 plus 25 percent of the gate receipts. Assume the ticket price is $12.
i) Determine the number of tickets which must be sold to recover the $ 100,000 guarantee. (3 marks)
ii) If Harambee stars officials hope to net a profit of $ 240,000 from the game, how many tickets must be sold? (2 marks)
iii) If a sellout of 50,000 fans is assured, what ticket price would allow Harambee stars officials to earn the desired profit of$ 240,000? (2 marks)
iv) Assuming the sellout of 50,000 fans, what would be total profit equal if the $ 12 price is charged?