Finite Math and Applied Calculus (6th Edition)

Published by Brooks Cole
ISBN 10: 1133607705
ISBN 13: 978-1-13360-770-0

Chapter 1 - Section 1.3 - Linear Functions and Models - Exercises - Page 92: 87b

Answer

Unit for slope: "riders/day per $\$ 1$ increase of the price of a ride " For every rise by $\$ 1$ of the price of the ride, the number of rides per day decreases by $4500$.

Work Step by Step

In the demand function $q=mx+b,$ the slope m is measured in (units of q) per (one unit of p) Here, q is measured in "riders per day", and p in "price (in dollars) per ride" So, the slope here is measured in "riders/day per $\$ 1$ increase of the price a ride " Our demand function from part (a), $q=-4500p+41,500$ has slope $-4500$, which we interpret: For every rise by $\$ 1$ of the price of the ride, the number of rides per day decreases by 4500.
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