A bridge has been constructed between the mainland and anisland. The total cost (excluding toll) to travel across thebridge is expressed as C=50+0.5V, where V is the number of veh/dayand C is the cost/vehicle in cents. The demand for travelacross the bridge is V=2500-10C.
(a)Determine the volume of traffic across the bridge.
(b)If a toll of 25 cents is added, what is the volume acrossthe bridge?
(c) A tollbooth is to be added, thus reducing the travel timeto cross the bridge. The new cost function is?