During the rapid expansion of NASCAR during the 1990s and 2000s, the Bristol Motor kept expanding capacity to keep up with demand. The August race became the 3^rd most attended sporting event in the world. The recession of 2007-2009 diminished fan interest in that race such that there were empty seats in 2010 and 2011. It would have been in that owner's best interest to

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Quizplus · Accepted Answer

Setting the ticket price to the point where marginal cost (MC) equals marginal revenue (MR) would be the best choice. This ensures that the owner is maximizing profit and not reducing ticket prices unnecessarily. If the demand for the race has decreased, reducing seating or spending more money on advertising may not be effective in increasing attendance. Therefore, finding the optimal ticket price that allows for profit maximization is the best approach.

During the Rapid Expansion of NASCAR During the 1990s and 2000s