I'm not sure that the formula applies so easily. I'd be willing to bet that if you lowered your bleacher price to $10 you would sell out. That's $5k you're missing out on for each home game. If you lowered your lower tier seats to $35, you'd probably sell those out as well, which would bring in $2k more per game.
When I promoted, my season ticket holders increased from 734 to 1030, a 40% increase. Raising my ticket prices by 40% would have been a really bad idea. It seems to be more logical to take a look at similar teams in your division and plan prices accordingly.