The Interboro Rapid Transit Authority (IRTA) has estimated the following peak and off-peak demand equations for its
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The Interboro Rapid Transit Authority (IRTA) has estimated the following peak and off-peak demand equations for its commuter rail service:
Q P p p = 50 − 2 ;
Q P op op = 20 − 4 , where Q is measured in thousands of passenger miles. IRTA’s marginal cost of providing commuter rail service is constant at $3 per passenger mile. IRTA’s capacity is 20 thousand passenger miles, which it reaches during peak, rush hours. What fare should IRTA charge during peak and off-peak hours?
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Related Book For 
Managerial Economics: Tools For Analyzing Business Strategy
ISBN: 307174
1st Edition
Authors: Thomas J Webster
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