The ats railroad runs a freight train daily between chicago, Ask an Expert

Economics

The ATS Railroad runs a freight train daily between Chicago and St Louis. Two major groups of customers use this service: beef distributors and wheat growers. The demand for freight cars is given by the following equations: Qa 50-0.125P for the beef distributors, and Q-- 60 -0.2P. for wheat growers.

P is the price charged by ATS for hauling one freight car ofmaterials between Chicago and St Louis, and Qis the number of freight cars demanded by each user. Its total cost function is: STC 5000 80Q where Qis the number of freight cars hauled on a particular trip. Determine the quantity it should sell each group of customer and what prices will be charged.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M92199836

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