Optimization - Maximizing Profit

Calculus: If we sell concert tickets at a price of $60, we can expect an attendance of 300 people. For each $6 decrease in price, another 600 tickets are sold. Expenses are incurred at $12 per ticket. Compute the ticket price that maximizes profit.

[MathDoctorBob]

@MetallicAus Thanks for the continued support and high praise! Are you taking math next semester? - Bob

[keithpaz]

i am going to show this to my boss to help him understand that maximising profits isnt just having the highest price on sock. thanks!

[MathDoctorBob]

@MetallicAus Cool. My office mate in grad school taught at AU for a while; it looks like he (Adam Harris) moved to U. New England. One my math heros, Mike Eastwood, is at AU. - Bob

[bellatee]

Thank you very much Sir for this video tutorial, it helped me so much with my assignment. :D

[MathDoctorBob]

Your welcome! That's econ 101; higher prices reduce demand as a general rule. Of course, try to make it sound like it was his idea.

[MathDoctorBob]

Thanks! Usually I get the Nic Cage thing for my voice.

[FireUpThePyroMania]

if only all my teacher spoke as clear and slow as him, i would get a's in every class

[firefrostpeacemaker]

x=1.5 could of been the value you used to check your work as well, since it was between 1 and 2 in your model made before you used calculus to get your answer.