Answer to Question #233444 in Economics of Enterprise for Mimi

Question

how much more or less will a passenger pay if she travels five times in April if demand 6400 and price is 18 and 3 times in july if demand is 2000 and price 40?

Answer 1

$D1×P1×T1=D2×P2×T2$

$T2×6400×18=2000×40×3$

$115200 T2 = 240000$

$T2 = \frac{240000}{115200}$

$T2 = 2.08$

When rounded off 2.08 to a whole number = 2

$= 3-2 = 1$