A subway charges 65 cents per person and has 10,000 riders each day. The demand function for
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A subway charges 65 cents per person and has 10,000 riders each day. The demand function for the subway is q = 2000√90 - p.
(a) Is demand elastic or inelastic at p = 65?
(b) Should the price of a ride be raised or lowered to increase the amount of money taken in by the subway?
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The elasticity of demand Ep at price p for the demand ...View the full answer
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Related Book For 
Calculus And Its Applications
ISBN: 9780134437774
14th Edition
Authors: Larry Goldstein, David Lay, David Schneider, Nakhle Asmar
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