The demand for monorail service in a city in 2005 can be approximated by q = −4,500p + 43,500 rides per day when the fare was $p. What price should have been charged to maximize total daily revenue? (Round your answer to the nearest cent.)

The demand for monorail service in a city in 2005 can be approximated by q = −4,500p + 43,500 rides per day when the fare was $p. What price should have been charged to maximize total daily revenue? (Round your answer to the nearest cent.)

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section6.1: Exponential Functions

Problem 64SE: A car was valued at 38,000 in the year 2007. By 2013, the value had depreciated to 11,000 If the...

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Question

The demand for monorail service in a city in 2005 can be approximated by

q = −4,500p + 43,500

rides per day when the fare was $p. What price should have been charged to maximize total daily revenue? (Round your answer to the nearest cent.)

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