Calculus

The number of people taking the bus at price p dollars per ticket is given by x=5000(5-p)^1/2.

For what value of P is the demand unitary?

  1. 👍 0
  2. 👎 0
  3. 👁 73
asked by Lee
  1. "Unitary demand" occurs where p*x = constant, which also implies that
    dp/p = -dx/x,
    which is another way of saying
    dx/dp = -x/p

    In your case
    dx/dp = -5000*(1/2)/(5-p)^1/2
    = -2500/(5-p)^1/2
    = -x/p = -5000*(5-p)^1/2*(1/p)

    1 = 2*(5-p)/p
    p = 10 - 2p
    p = $3.33

    1. 👍 0
    2. 👎 0
    posted by drwls

Respond to this Question

First Name

Your Response

Similar Questions

  1. Grade 12 Calculus

    For an outdoor concert, a ticket price of $30 typically attracts 5000 people. For each $1 increase in the ticket price, 100 fewer people will attend. The revenue, R, is the product of the number of people attending and the price

    asked by Q on March 25, 2014
  2. algebra

    Q 2: If the ticket agency charges ‘p’ dollars per ticket for a concert, it can sell maximum of (40000 – p) tickets. Find: a. A polynomial to represent the total revenue with a ticket price as p dollars. b. How many tickets

    asked by Anonymous on April 26, 2010
  3. math

    Joe decides to take his six year old son to the planetarium. The price for the child's ticket is 5.75 dollars less than the price for the adult's ticket. If you represent the price for the child's ticket using the variable "x,"

    asked by oscar on September 4, 2015
  4. math

    The city bus company usually transports 12000 riders per day at a ticket price of $1. The company wants to raise the tickets price and knows that for every 10 cents increase, the number of riders decreases by 400. A. What price

    asked by ted on November 24, 2010
  5. math

    The city bus company usually transports 12000 riders per day at a ticket price of $1. The company wants to raise the tickets price and knows that for every 10 cents increase, the number of riders decreases by 400. A. What price

    asked by ted on November 24, 2010
  6. Math

    A university is trying to determine what price to charge for tickets to football games. At a price of ​$30 per​ ticket, attendance averages 40,000 people per game. Every decrease of ​$5 adds 10,000 people to the average

    asked by saul on October 8, 2016
  7. math

    Could someone please help me answer this question i am stuck! A Marketing company provides the following formulas to the owner of an amusement park to help him make decisions about the park. -The number , N, of people who attend

    asked by angelina on July 24, 2016
  8. Maths

    There are x people in the bus. When the bus stops y people get off and 6 people get on. How many people are yhere now on the bus ? x = 6- y Is my answer right ? There are x people in the bus. When the bus stops y people get off

    asked by Fahad on April 15, 2007
  9. Computer Science

    I haven't done this before and I need some help starting this: A programmer is writing a total ticket price calculator for a theme park. The park offers the price of £13 per adults and £8 per child. There is a bulk purchase

    asked by Hollie on June 18, 2016
  10. Algorithms

    Can I have help on how to do this? A programmer is writing a total ticket price calculator for a theme park. The park offers the price of £13 per adults and £8 per child. There is a bulk purchase discount of 10% off the total

    asked by Hollie on June 18, 2016

More Similar Questions