Calculus homework

Question

A baseball team plays in a stadium that holds 54,000 spectators. With ticket prices at $10, the average attendance had been 16,000. When ticket prices were lowered to $8, the average attendance rose to 24,000.

Answer 1

P(x) = -x/4 + 14

$7 is the Revenue maximizing Price with x= 28 thousand seats

R = Px = -x^2/4 + 14x

R' = -x/2 + 14 = 0

x = 28

P = -28/4 +14 = 7 dollars