On a site, I read a word problem:
A company charges 1.25 per ride and currently averages 10000 riders per day. The company needs to increase revenue, but found that each $.10 increase in fare results in a loss of 500 riders. What should company charge to maximize revenue?
The equation should read (10,000-500x)(1.25 + .10x). Maximizing this function occurs when x = 3.75.
However, the site says the answer is .75. Typo? http://pdfs.cpm.org/state_supplements/Optimization_Problems.pdf