The WMA Bus Lines offers sightseeing tours of Washington, D.C. One tour, priced at $7 per person, had an average demand of about 1000 customers per week. When the price was lowered to $6, the weekly demand jumped to about 1200 customers. Assuming that the demand equation is linear, find the tour price that should be charged per person to maximize the total revenue each week.
Equations and Inequations
Equations and inequalities describe the relationship between two mathematical expressions.
Linear Functions
A linear function can just be a constant, or it can be the constant multiplied with the variable like x or y. If the variables are of the form, x2, x1/2 or y2 it is not linear. The exponent over the variables should always be 1.
Q. The WMA Bus Lines offers sightseeing tours of Washington, D.C. One tour, priced at $7 per person, had an average demand of about 1000 customers per week. When the price was lowered to $6, the weekly demand jumped to about 1200 customers. Assuming that the demand equation is linear, find the tour price that should be charged per person to maximize the total revenue each week.
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