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4. a) At a price of $8 per ticket, a musical theatre group can fill every seat in the theatre, which has a capacity
4. a) At a price of $8 per ticket, a musical theatre group can fill every seat in the theatre, which has a capacity of 1500. For every additional dollar charged, the number of people buying the ticket decreases by 75. Use calculus to find what ticket price maximizes revenue. Be sure to check your second order condition b) Suppose that the number of people coming to a concert was Ne P3+2P, where N is the attendance and P is the price. Now suppose that price is dependent on the cost of putting the concert together P-5-C2 where C is the cost. Find dN/dC by the chain rule (please note that this question is separate froh part a.).
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