15000 automobiles pass across a tool bridge every day. P13.00 per car is the current toll. According to studies, every 75-cent increase in the toll reduces traffic by 750 vehicles per day. The toll should be raised to a level where income is maximized. Calculate the toll rate that will optimize revenue, the daily traffic volume following the toll increase, and the overall revenue increase with the new tool
15000 automobiles pass across a tool bridge every day. P13.00 per car is the current toll. According to studies, every 75-cent increase in the toll reduces traffic by 750 vehicles per day. The toll should be raised to a level where income is maximized. Calculate the toll rate that will optimize revenue, the daily traffic volume following the toll increase, and the overall revenue increase with the new tool
Chapter2: Loads On Structures
Section: Chapter Questions
Problem 1P
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Transcribed Image Text:15000 automobiles pass across a tool bridge every day. P13.00 per car is
the current toll. According to studies, every 75-cent increase in the toll
reduces traffic by 750 vehicles per day. The toll should be raised to a
level where income is maximized. Calculate the toll rate that will optimize
revenue, the daily traffic volume following the toll increase, and the
overall revenue increase with the new tool
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