Equilibrium Price: Mars Monorail Service The demand for monorail service i...

Equilibrium Price: Mars Monorail Service The demand for monorail service in the three urbynes (or districts) of Utarek, Mars can be approximated by

million rides per day,

where p is the fare the Utarek Monorail Cooperative charges in zonars (). Assume the cooperative is prepared to provide service for

q = 2.5p + 17.5 million rides per day at a fare of p.

a. Graph the demand and supply equations, and use your graph to estimate the equilibrium price (to the nearest 0.50 zonars).

b. Estimate the shortage or surplus of monorail service at the December 2085 fare of 1 per ride.