Math

A bus company has 4000 passengers daily, each paying a a fare of For each each $0.15 increase, the company estimates that it will lose 40 passengers. If the company needs to take in $10 450 per day to stay in business, what fare should be charged?

  1. 👍
  2. 👎
  3. 👁
  1. Please complete your question and repost.

    PROOFREAD!

    1. 👍
    2. 👎
    👤
    Ms. Sue
  2. sorry...
    A bus company has 4000 passengers daily, each paying a fare of $2. For each each $0.15 increase, the company estimates that it will lose 40 passengers. If the company needs to take in $10 450 per day to stay in business, what fare should be charged?

    1. 👍
    2. 👎
  3. The revenue must be positive, so if there are x price increases, the revenue is
    (4000-40x)(2.00+0.15x)

    So, they need
    -6x^2+520x+8000 >= 10450
    5 <= x <= 81.67
    So, the fare must be between $2.75 and $14.25
    The maximum revenue of $19270 will be achieved at a price of $8.50

    1. 👍
    2. 👎

Respond to this Question

First Name

Your Response

Similar Questions

  1. Financial Management

    Which of the following is NOT an example of an agency cost? A. Paying an accounting firm to audit your financial statements. B. Paying an insurance company to assure that building codes have been met for new construction. C.

  2. Math

    400 passengers go on a coach trip. Each coach takes 50 passengers. Each passenger pays £23 Below shows the costs for the coach company. pay for driver/cost for each coach=£95 Fuel/ cost for each coach = 70p per mile Each coach

  3. Math

    The hourly operating cost of an airplane, which seats up to 405 passengers, is estimated to be $5,500. If an airline charges each passenger a fare of $100 per hour of flight, find the hourly profit P it earns operating the

  4. math

    The owner of a luxury motor yacht that sails among the 4000 Greek islands charges $960/person/day if exactly 20 people sign up for the cruise. However, if more than 20 people sign up (up to the maximum capacity of 100) for the

  1. general mathematics

    A van rental charges 5,500.00 pesos flat rate for a whole-day tour in CALABARZON of 5 passengers and each additional passenger added 500.00 pesos to the tour fare. Express a piecewise function to show to represent the van rental

  2. Algebra

    The bus fare in a city is $2.00. People who use the bus have the option of purchasing a monthly coupon book for $24.00. With the coupon​ book, the fare is reduced to.$1.00. Determine the number of times in a month the bus must

  3. Deepa

    A bus service carries 10 000 people daily between Ajax and Unoin Station, and the company has space to serve up to 15 000 people per day. The cost to ride the bus is 20$. Market research shows that if the fare increases by $0.50,

  4. English

    1. He was late because he missed the bus. [In this sentence, what does 'the bus' mean? Does the bus mean the specific bus? The school bus which his schoool has, or the Number 12 bus which he usualy takes when he comes to school?

  1. Math

    There was water damage to personal property in a home. The items damaged were originally priced at $4000. The items lose value by 11% per year. The items were four years old when they were damaged. The owner had actual cash value

  2. Calculus

    Could someone help me setup an equation for this equation? --------------------------------- A city bus system carries 4000 passengers a day throughout a large city. The cost to ride the bus is $1.50/person. The owner realizes

  3. PRE-CALCULUS

    . Sam won $150,000 in the Michigan lottery and decides to invest the money for retirement in 20 years. Find the accumulated value for Sam’s retirement for each of his options: (a) a certificate of deposit paying 5.4% compounded

  4. General Mathematics

    A proposed train fare would charge 20 pesos for the first five kilometers if travel and 0.75 for each additional kilometer over the proposed fare. Find the fare function f(x) where x represents the number of kilometers traveled

You can view more similar questions or ask a new question.