A popular performer is scheduled to appear at a major city. The promoter is deciding between two venues, the larger of which costs $20,000 to rent and the smaller of which costs $12,000 to rent
Ticket prices for the smaller venue are $20, but the promoter is unsure what to charge per ticket for the larger venue. If exactly 1000 customers arrive, what percentage change in ticket prices would make the profit at the large venue identical to that of the smaller venue?
Answer: Increase 40%
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Indicate whether the statement is true or false
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