Question 894291: 4800 vehicles use the tollway for free. After the first month it is estimated that for each dollar increase in the toll, 800 fewer vehicles will use the tollway. At what price do you think the company should set the tolls in orders to make the most money? Why?
Found 3 solutions by josgarithmetic, MathTherapy, richwmiller:
Answer by josgarithmetic(39613)   (Show Source):
Answer by MathTherapy(10549)  (Show Source):
You can put this solution on YOUR website!
4800 vehicles use the tollway for free. After the first month it is estimated that for each dollar increase in the toll, 800 fewer vehicles will use the tollway. At what price do you think the company should set the tolls in orders to make the most money? Why?
Maximum revenue will occur when price is set at: $
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Answer by richwmiller(17219)  (Show Source):
You can put this solution on YOUR website! fixing josgarthmetic's answer
The two roots for r are at 0 and 6.
The midpoint of those is (0+6)/2=3
The maximum revenue would be predicted at 3 dollar per vehicle.
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