Louis and his family are going to the zoo. The price of a bus ticket is $1.00, but the family has some coupons. If Louis pays full price, his wife pays 2/3 of the regular price, and the two children pay 1/2 of the regular price. How much will it cost for the family to take the bus?

Full price, P = $1

Wife pays (2/3)P
Each child pays (1/2)P

Total fare = P + (2/3)P + 2*(1/2)P
simplify and substitute P=$1.