Currently 10,000 people take city buses each day and pay $2 dollars for a ticket. The number

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Currently 10,000 people take city buses each day and pay $2 dollars for a ticket. The number of people taking city buses at price p dollars per ticket is given x = 5000 √6-p

a. Evaluate the elasticity at 4. E(4) = _____________________

b. Currently the price per ticket is $2 dollars. Should the price be raised in order to increase revenue? ____________________

c. For what value of pthe demand is unitary? P= ________________

d. What is the maximum revenue? Revenue = __________________

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Financial Management for Public Health and Not for Profit Organizations

ISBN: 978-0132805667

4th edition

Authors: Steven A. Finkler, Thad Calabrese

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Question Posted: Jul 29, 2013 12:43 AM

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Currently 10,000 people take city buses each day and pay $2 dollars for a ticket. The number

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Financial Management for Public Health and Not for Profit Organizations

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