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a shuffle company that charges $60 for a ride from the airport to downtown has 1000 riders per day. The company is considering an increase
a shuffle company that charges $60 for a ride from the airport to downtown has 1000 riders per day. The company is considering an increase in fare but a study has shown that for each dollar the fare increased, 20 fewer people will use the service. On the other hand, each dollar the fare decreases, 20 more people will ride. Would the company be wise to raise or lower its fare? what fare would maximize their revenue? what is the maximum revenue?
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