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The demand curve for tickets at an amusement park is: Q=D(p)=1400-46p
Q=D(p)=1400-46p, p > 0
All customers pay the same ticket price. The marginal cost of serving a customer is $11.
Using calculus and formulas (don't just build a table in a spreadsheet as in the Marginal Analysis I lesson) to find a solution, how many tickets will be sold at the profit-maximizing price?
Round the equilibrium quantity DOWN to its integer part and round the equilibrium price to the nearest cent.
Hint: The first derivative of the total revenue function, which is cumulative, is the marginal revenue function, which is incremental. The formula summary explains how to compute the derivative.
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