SOLUTION: Can you please help me with this question I am very confused by it. I am clueless. Thanks for your help In most businesses, increasing prices of their product can have a negati

Question 81140: Can you please help me with this question I am very confused by it. I am clueless. Thanks for your help
In most businesses, increasing prices of their product can have a negative effect on the number of customers of the business. A bus company in a small town has an average number of riders of 1,000 per day. The bus company charges $2.00 for a ride. They conducted a survey of their customers and found that they will lose approximately 50 customers per day for each $.25 increase in fare.
a) Given the description above, graph the function, identify the graph of the function (line, parabola, hyperbola, or exponential), find the slope of the graph, find the price at which there will be no more riders, and find the maximum number of riders possible. The vertical axis is the number of riders per day, and the horizontal axis is the fare.
b) The bus company has determined that even if they set the price very low, there is a maximum number of riders permitted each day. If the price is $0 (free), how many riders are permitted each day?
c) If the bus company sets the price too high, no one will be willing to ride the bus. Beginning at what ticket price will no one be willing to ride the bus?
Answer by jim_thompson5910(35256) (Show Source): You can put this solution on YOUR website!
Check out this answer
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