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Extra Prob-2 - AEB 3510 APPLICATIONS OF DERIVATIVES Chapter...

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AEB 3510: APPLICATIONS OF DERIVATIVES Chapter 10 Supplemental Problems 1) A toll road averages 35,000 cars per day. Suppose that the Department of Transportation estimates the demand function for the toll road to be Q(p) = 60000 – 250p, where Q is the number of cars per day using the toll road and p is the toll in cents. a) What out the Total Revenue function for the toll road? b) What is the optimal toll rate that should be charged? (Note: The optimal toll rate is the toll rate that maximizes revenues). 2) A movie theater sells tickets for $8.00 and on Friday evenings, it averages about 720 tickets sold. A survey shows that for each $0.25 drop in ticket price, 20 more people will buy tickets on Friday evenings. a) What is the movie theater’s Total Revenue function? b) What ticket price will maximize Total Revenue? 3) The fish population on Georges Bank in New England has been overharvested. After severe conservation measures in place, the environmental economists expect the fish
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