Find the demand equation assuming that it is linear

Reference no: EM131175763

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?

Reference no: EM131175763

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