Determine the volume of traffic across the bridge.
What will be an ideal response?
A bridge has been constructed between the mainland and an island. The total cost (excluding tolls) to travel across the bridge is expressed as C ? 50 ? 0.5V, where V is the number of veh/hr and C is the cost/vehicle in cents. The demand for travel across the bridge is V ? 2500 ?10C .
Substitute the total cost function into the demand function and solve for V.
V = 2500 –10(50 + 0.5V)
V = 2500 – 500 – 5V
6V = 2000
V = 333.33 vehicles/ hour
Therefore, the number of vehicles wanting to cross this bridge is 334 vehicles/hour.
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