Question

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?

Answer #1

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 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 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?

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 $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, 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 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.
____ 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...

Fancy Millwork has a factory that produces custom kitchen
cabinets. It has multiple product lines. Materials and labor for
the cabinets are determined by each job. To simplify the
assignment, we will assume the following average costs. The company
estimates that it will have 32,000 direct labor hours in total for
the kitchen cabinets. The materials include $2,000 for the wood and
other materials on a per job basis. It requires 40 hours of labor
on average for a custom...

CASE STUDY – Jacobson Carpet Company
In January 2002, Ms. Mary Lewis was preparing to meet with Mr.
Carpenter, President of Jacobson Carpet Company.
Ms. Lewis assumed that the meeting was related to the recent
Board of directors of the company. As a direct assistant
to the President, she knew from experience that this type of
meeting often resulted in a project to be studied. Her
expectation was confirmed as soon as Mr. Carpenter began to
inform her of the...

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