The number of automobile trips per hour(V) between tow midwestern cities has the following function: V...
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The number of automobile trips per hour(V) between tow midwestern cities has the following function: V = aT,20T 15 C,05C6 Where TA and TT are the travel time for auto and transit, respctively; CA and CT are out of pocket costs for auto and transit, respectively; and a is a constant that reflects the size and average income of the population. (a) at the current time, there are 50,000 automobile trips between the cities every day. If a new parking policy results in an increase of out of pocket auto costs from $5 to $6, what will the change in demand? (b) in addition to part(a), if transit facitlity improvements lead to a reduction in transit time form 1 hour to 45mins, what would be the new demand for automobile travel between the two cities. The number of automobile trips per hour(V) between tow midwestern cities has the following function: V = aT,20T 15 C,05C6 Where TA and TT are the travel time for auto and transit, respctively; CA and CT are out of pocket costs for auto and transit, respectively; and a is a constant that reflects the size and average income of the population. (a) at the current time, there are 50,000 automobile trips between the cities every day. If a new parking policy results in an increase of out of pocket auto costs from $5 to $6, what will the change in demand? (b) in addition to part(a), if transit facitlity improvements lead to a reduction in transit time form 1 hour to 45mins, what would be the new demand for automobile travel between the two cities.
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Discovering Advanced Algebra An Investigative Approach
ISBN: 978-1559539845
1st edition
Authors: Jerald Murdock, Ellen Kamischke, Eric Kamischke
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