Yes. Make sure you are using 20 mhz channels instead of 40 or even worse 80mhz channels on the 5ghz.
(allowed bands for 40 mhz should be none, and 80 mhz support should be unchecked in the ARM profile)
Make sure you have separate Radio and ARM profiles for both the g and the a bands so you can change them independently (the Radio Profile is Tied to the ARM profile, so you need to create a radio profile, then an ARM profile for both bands, and then apply them).
Change the Max TX power on the g band to 9 and the min-TX to 6 and then observe the utilization after 5 minutes
Change the Max TX power on the a band to 18 and the min to 12 and then observe the utilization after 5 minutes.
You might want to have ARM mode aware Off first on the 2.4ghz band when you are changing the power, because that would be changing too many things at one time. ARM mode aware should be considered a last resore, because it is indiscriminate. Try lowering the power on the 2.4ghz first and check the utilization.
When it is really busy, the RF utilization can rise to 50 percent and there is nothing you can do about it, but you can first make sure when classes are empty, it is not already up there, so that you can give clients room to operate when things spike.