Question

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
Evaluate the elasticity at 4. E(4) = _____________________
Currently the price per ticket is $2 dollars. Should the price be raised in order to increase revenue? ____________________
For what value of pthe demand is unitary? P= ________________
What is the maximum revenue? Revenue = __________________



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  • CreatedJuly 29, 2013
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