SOLUTION: The manager of a symphony computes that the symphony will earn -40p^2+1100p dollars per concert if they charge p dollars for tickets. What ticket price should the symphony charge i

Algebra ->  Quadratic Equations and Parabolas  -> Quadratic Equations Lessons  -> Quadratic Equation Lesson -> SOLUTION: The manager of a symphony computes that the symphony will earn -40p^2+1100p dollars per concert if they charge p dollars for tickets. What ticket price should the symphony charge i      Log On


   

Question 1009404: The manager of a symphony computes that the symphony will earn -40p^2+1100p dollars per concert if they charge p dollars for tickets. What ticket price should the symphony charge in order to maximize its profits?
Answer by fractalier(6550) About Me  (Show Source):
You can put this solution on YOUR website!
We compute the derivative and set it equal to zero to find p.
f(p) = -40p^2 + 1100p
f'(p) = -80p + 1100 = 0
and p = $13.75