Question: Back in 2 0 0 5 , the demand for monorail service in a city could be approximated by q = 4 , 5 0
Back in the demand for monorail service in a city could be approximated by
q p
rides per day when the fare was $p
Find the function R for total daily revenue in dollars, in terms of p only, subject to any constraints.
Rp
Find
Rp
Rp
What price in dollars should have been charged to maximize total daily revenue? Round your answer to the nearest cent.
p $
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