College Algebra

Question

Suppose that the profit (in dollars) for selling concert tickets is given by the function P(x)= -4x^2 +500x-1000, where is the price of a ticket in dollars. determine the maximum profit.

Answer 1

P'(x) = -8x +500 = 0

8x =500

x = 500/8 = 62.5

P(62.5) = -4(62.5)^2 + 500(62.5) -1000= 31,250 - 15,625-1000 = 15,625 -1000= 14,625= max profit