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Currently 1800 people ride a certain cable-car each day and pay $4 for a ticket. The number of people q willing to ride the cable-car at price p is a=600(5-√P). The cable-car company would like to increase
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Currently 1800 people ride a certain cable-car each day and pay $4 for a ticket. The number of people q willing to ride the cable-car at price p is a=600(5-√P). The cable-car company would like to increase its revenue

a) Is demand elastic or inelastic at p = 4?

b) Should the price of a ticket be raised or lowered?​

User Sunil KV
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1 Answer

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Answer:

yes the price should go up

Explanation:

1800×4.00

User Lionel T
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