Demand for Monorail Service: Mars The Utarek monorail, which links the three urbynes (or districts) of Utarek on Mars, charged .5 per ride and sold about 14 million rides per day. When the Utarek City Council lowered the fare to .3 per ride, the number of rides increased to 18 million per day. a. Use the given information to find a linear demand equation. b. Give the units of measurement and interpretation of the slope.
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Demand for Monorail Service: Mars The Utarek monorail, which links the three urbynes (or districts) of Utarek on Mars, charged .5 per ride and sold about 14 million rides per day. When the Utarek City Council lowered the fare to .3 per ride, the number of rides increased to 18 million per day.
a. Use the given information to find a linear demand equation.
b. Give the units of measurement and interpretation of the slope.
c. What would have been the effect on ridership of raising the fare to .10 per ride?
given,
The Utarek monorail charged 5 per ride and sold about 14 million rides per day
when they fare to 3 per ride the number of rides increased to 18 million per day
that is,
they sold 14 million ride when charged 5
and sold 18 million rides when charged 3
Formula is,
therefore,
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