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When the price of a New York City bus ride was 35 cents, the number of paying riders per month was about 50 million. When the price was increased to 50 cents, ridership dropped 20\%. Find the demand equation assuming that it is linear. Plot the graph and determine the maximum monthly ridership if bus rides were free. Does a linear model seem appropriate near $p=0 ?$

$p=-1.5 x+110,73.33$ million,

Algebra

Chapter 1

Functions and their Applications

Section 6

Economic Functions

Functions

Campbell University

Oregon State University

Harvey Mudd College

Idaho State University

Lectures

01:43

In mathematics, a function is a relation between a set of inputs and a set of permissible outputs with the property that each input is related to exactly one output. An example is the function that relates each real number x to its square x^2. The output of a function f corresponding to an input x is denoted by f(x).

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Mhm. We know that the price of a New York City bus ride was 35 cents And the number of paying writers per month was about 50 million. The price was increased to 50 cents And ridership dropped by 20%. So what this is gonna look like is we have um users being 50 And then the court running price was 35 cents and then we have increased to 50 cents and it dropped By 20%. So now we have 80% of 50, It's 40 minutes put in 40. And then that is he um Prices increased to 50 cents. Okay then we end up seeing we get this function here, we can find the line, It can be 15 over -10. So we'll get a negative 1.5 people's negative 1.5. And then we just need to find the way on your trip which is gonna be parts one time. That's the final result. Yeah.

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