Ask questions and get helpful answers.

A bus company has 4000 passengers daily, each paying a a fare of For each each $0.15 increase, the company estimates that it will lose 40 passengers. If the company needs to take in $10 450 per day to stay in business, what fare should be charged?

  1. 👍
  2. 👎
  3. 👁
  4. ℹ️
  5. 🚩

3 answers

  1. Please complete your question and repost.

    PROOFREAD!

    1. 👍
    2. 👎
    3. ℹ️
    4. 🚩
  2. sorry...
    A bus company has 4000 passengers daily, each paying a fare of $2. For each each $0.15 increase, the company estimates that it will lose 40 passengers. If the company needs to take in $10 450 per day to stay in business, what fare should be charged?

    1. 👍
    2. 👎
    3. ℹ️
    4. 🚩
  3. The revenue must be positive, so if there are x price increases, the revenue is
    (4000-40x)(2.00+0.15x)

    So, they need
    -6x^2+520x+8000 >= 10450
    5 <= x <= 81.67
    So, the fare must be between $2.75 and $14.25
    The maximum revenue of $19270 will be achieved at a price of $8.50

    1. 👍
    2. 👎
    3. ℹ️
    4. 🚩

Answer this Question

Related Questions

Still need help?

You can ask a new question or browse existing questions.