Question

The manager of a large apartment complex knows from experience that 80 units will be occupied...

The manager of a large apartment complex knows from experience that 80 units will be occupied if the rent is 368 dollars per month. A market survey suggests that, on the average, one additional unit will remain vacant for each 8 dollar increase in rent. Similarly, one additional unit will be occupied for each 8 dollar decrease in rent. What rent should the manager charge to maximize revenue?

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The manager of a large apartment complex knows from experience that 90 units will be occupied...
The manager of a large apartment complex knows from experience that 90 units will be occupied if the rent is 300 dollars per month. A market survey suggests that, on the average, one additional unit will remain vacant for each 1 dollar increase in rent. Similarly, one additional unit will be occupied for each 1 dollar decrease in rent. What rent should the manager charge to maximize revenue?
The manager of a large apartment complex knows from experience that 100 units will be occupied...
The manager of a large apartment complex knows from experience that 100 units will be occupied if the rent is 340 dollars per month. A market survey suggests that, on the average, one additional unit will remain vacant for each 10 dollar increase in rent. Similarly, one additional unit will be occupied for each 10 dollar decrease in rent. What rent should the manager charge to maximize revenue?
The manager of a large apartment complex knows from experience that 110 units will be occupied...
The manager of a large apartment complex knows from experience that 110 units will be occupied if the rent is 468 dollars per month. A market survey suggests that, on the average, one additional unit will remain vacant for each 9 dollar increase in rent. Similarly, one additional unit will be occupied for each 9 dollar decrease in rent. What rent should the manager charge to maximize revenue?
The manager of a large apartment complex knows from experience that 100 units will be occupied...
The manager of a large apartment complex knows from experience that 100 units will be occupied if the rent is 420 dollars per month. A market survey suggests that, on the average, one additional unit will remain vacant for each 6 dollar increase in rent. Similarly, one additional unit will be occupied for each 6 dollar decrease in rent. What rent should the manager charge to maximize revenue?
A box is constructed out of two different types of metal. The metal for the top...
A box is constructed out of two different types of metal. The metal for the top and bottom, which are both square, costs $2 per square foot and the metal for the sides costs $6 per square foot. Find the dimensions that minimize cost if the box has a volume of 15 cubic feet. Length of base x= ___Height of side z=___ The manager of a large apartment complex knows from experience that 80 units will be occupied if the...
You are the manager of an apartment complex with 50 units. When you set rent at...
You are the manager of an apartment complex with 50 units. When you set rent at $700/month, all apartments are rented. As you increase rent by $25/month, one fewer apartment is rented. Maintenance costs run $50/month for each occupied unit. What is the rent (in dollars) that maximizes the total amount of profit?
A real estate office handles a 80-unit apartment complex. When the rent is $550 per month,...
A real estate office handles a 80-unit apartment complex. When the rent is $550 per month, all units are occupied. For each $45 increase in rent, however, an average of one unit becomes vacant. Each occupied unit requires an average of $70 per month for service and repairs. What rent should be charged to obtain a maximum profit?
A hotel has 260 units. All rooms are occupied when the hotel charges $80 per day...
A hotel has 260 units. All rooms are occupied when the hotel charges $80 per day for a room. For every increase of x dollars in the daily room rate, there are x rooms vacant. Each occupied room costs $28 per day to service and maintain. What should the hotel charge per day in order to maximize daily profit?
Total utility can be objectively measured in numbers that indicate usefulness or benefit to the consumer....
Total utility can be objectively measured in numbers that indicate usefulness or benefit to the consumer. ____ 2. Consumers should purchase quantities of a good to the point where MU > P. ____ 3. Voluntary exchange requires that there must be mutual gain. ____ 4. Points along a budget line represent the maximum combinations of two commodities that a consumer can afford. ____ 5. The budget line represents a consumer's preferences for a commodity. ____ 6. A change in consumer...
REQUIREMENTS:   1)    Sales Budget   2)    Production Budget Budgets should be for the individual three (3) months of the...
REQUIREMENTS:   1)    Sales Budget   2)    Production Budget Budgets should be for the individual three (3) months of the first quarter of 2019. Include a quarterly total column on the right side. Each budget/requirement should be in a separate tab within one spreadsheet. All pages should be in portrait format using the same font. Use proper rounding and show two (2) decimal places of accuracy on dollar amounts. Round up and show whole amounts on all other figures. (Hint) Excel provides functions for...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT