document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=762313>Question 762313</A>: <I><SPAN STYLE=\"word-break: break-all;\"> I'm drawing a blank at how to set this equation up - any help would be greatly appreciated!\r<BR>\n" );
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document.write( "A city's transit authority serves 156,000 commuters daily when the fare is $1.50. Market research has determined that every penny decrease in the fare will result in 1,200 new riders. What fare will maximize revenue?\r<BR>\n" );
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document.write( "Thank you! </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #463855 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=463855\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A city's transit authority serves 156,000 commuters daily when the fare is $1.50. Market research has determined that every penny decrease in the fare will result in 1,200 new riders. What fare will maximize revenue? <BR>\n" );
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document.write( "R(x) = (150-x)(156000+1200x)<BR>\n" );
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document.write( "R'(x) = (150-x)*1200 + 156000*(-1)<BR>\n" );
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document.write( "Solve: 1200(150-x) - 156000 = 0<BR>\n" );
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document.write( "1200x = 1200*150 -156000<BR>\n" );
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document.write( "x = 20 cents<BR>\n" );
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document.write( "Max fare = $1.50 - 20 = $1.30<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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