Demand for Monorail Service, Las Vegas In 2005, the Las Vegas monorail charged $3 per ride and had an average ridership of about 28,000 per day. In December 2005 the Las Vegas Monorail Company raised the fare to $5 per ride, and average ridership in 2006 plunged to around 19,000 per day.
a. Use the given information to find a linear demand equation.
b. Give the units of measurement and interpretation of the slope.
c. What would have been the effect on ridership of raising the fare to $6 per ride?
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