Question

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?

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 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?
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?
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...
Moore Plumbing Supply Company Capital Structure Mort Moore founded Moore Plumbing Supply after returning from duty...
Moore Plumbing Supply Company Capital Structure Mort Moore founded Moore Plumbing Supply after returning from duty in the South Pacific during World War II. Before joining the armed forces, he had worked for a locally owned plumbing company and wanted to continue with that type of work once the war effort was over. Shortly after returning to his hometown of Minneapolis, Minnesota, he became aware of an unprecedented construction boom. Returning soldiers needed new housing as they started families and...
Please read the article and answear about questions. Determining the Value of the Business After you...
Please read the article and answear about questions. Determining the Value of the Business After you have completed a thorough and exacting investigation, you need to analyze all the infor- mation you have gathered. This is the time to consult with your business, financial, and legal advis- ers to arrive at an estimate of the value of the business. Outside advisers are impartial and are more likely to see the bad things about the business than are you. You should...