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A bus service carries 10 000 people daily between Ajax and Union Station. and the company has space to serve up to 15 000 people per day. The cost to ride the bus is $20. Market research shows that if the fare increases by $0.50, 200 fewer people will ride the bus. What fare should be charged to get the maximum revenue, given that the bus company must have at least $130 000 in fares a day to cover operating costs?

A bus service carries 10 000 people daily between Ajax and Union Station. and the company has space to serve up to 15 000 people per day. The cost to ride the bus is $20. Market research shows that if the fare increases by $0.50, 200 fewer people will ride the bus. What fare should be charged to get the maximum revenue, given that the bus company must have at least $130 000 in fares a day to cover operating costs?

College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter1: Equations And Inequalities
Section1.7: Inequalities
Problem 85E: Golfing lessons Macy decides to take golfing lessons. If her new set of golf clubs cost 250 and...
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4 A bus service carries 10 000 people daily between Ajax and Union Station, and the company has space to serve up to 15 000 people per day. The cost to ride the bus is $20. Market research shows that if the fare increases by $0.50, 200 fewer people will ride the bus. What fare should be charged to get the maximum revenue, given that the bus company must have at least $130 000 in fares a day to cover operating costs?
Transcribed Image Text:4 A bus service carries 10 000 people daily between Ajax and Union Station, and the company has space to serve up to 15 000 people per day. The cost to ride the bus is $20. Market research shows that if the fare increases by $0.50, 200 fewer people will ride the bus. What fare should be charged to get the maximum revenue, given that the bus company must have at least $130 000 in fares a day to cover operating costs?
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