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25. A commuter train carries 2000 passengers daily. The cost to ride the train is $7 per person. Market research shows t
Posted: Thu Jul 14, 2022 4:09 pm
by answerhappygod
- 25 A Commuter Train Carries 2000 Passengers Daily The Cost To Ride The Train Is 7 Per Person Market Research Shows T 1 (134.72 KiB) Viewed 43 times
25. A commuter train carries 2000 passengers daily. The cost to ride the train is $7 per person. Market research shows that 40 fewer passengers would ride the train for each $0.10 increase in fare and 40 more people would ride the train for each $0.10 decease to fare. The capacity of the train is 2600 passengers and if the train carries less than 1600 passengers, then it means the cost to run the train will be greater than the revenue. What fare should the railway charge to get the largest possible revenue? [6 Marks]