Answer:
$7,562.5
Step-by-step explanation:
Given the function of the profit earned expressed as;
f(p) =-40p^2+1100p
To maximize the profit, df(p)/dp must be sero
df(p)/dp = -80p + 1100 = 0
-80p + 1100 = 0
-80p = - 1100
p = 1100/80
p = 13.75
Substitute p = 13.75 into the function
f(13.75) =-40(13.75)^2+1100(13.75)
f(13.75) = -7,562.5+15,125
f(13.75) = 7,562.5
Hence the symphony should charge $7,562.5 to maximize the profit.
