Back in 2005, the monorail in a certain city charged $3 per ride and had an average ridership of about 26,000 per day. In December 2005, the mono
(a) Use the given information to find a linear demand equation. (p is the cost in dollars.)
$q(p) =$
(b) Give the units of measurement and interpretation of the slope.
$\bigcirc$ dollars per day per ride
$\bigcirc$ rides per day per dollar
$\bigcirc$ dollars per ride per day
$\bigcirc$ days per dollars per ride
Interpret the slope.
$\bigcirc$ As you increase the number of riders, the price increases.
$\bigcirc$ As you increase the days, the price increases.
$\bigcirc$ As you increase the price, the ridership increases.
$\bigcirc$ As you increase the price, the ridership decreases.
(c) What would have been the effect on ridership of raising the fare to $6 per ride?
$\bigcirc$ Ridership would rise.
$\bigcirc$ Ridership would fall.
$\bigcirc$ Ridership would be unaffected.
