Question

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?

Math   Calculus   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
A real estate office manages an apartment complex with 40 units. When the rent is $660...
A real estate office manages an apartment complex with 40 units. When the rent is $660 per month, all 40 units are occupied. However, when the rent is $736, the average number of occupied units drops to 36. Assume that the relationship between the monthly rent p and the demand x is linear. (Note: the term demand refers to the number of occupied units.) (a) Write a linear equation giving the demand x in terms of the rent p. x...
A real estate office manages an apartment complex with 40 units. When the rent is $660...
A real estate office manages an apartment complex with 40 units. When the rent is $660 per month, all 40 units are occupied. However, when the rent is $736, the average number of occupied units drops to 36. Assume that the relationship between the monthly rent p and the demand x is linear. (Note: the term demand refers to the number of occupied units.) (a) Write a linear equation giving the demand x in terms of the rent p. x...
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 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?
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 firm owns an apartment block that contain 96 apartments. Apartments are rented at...
A real estate firm owns an apartment block that contain 96 apartments. Apartments are rented at $550 per month every month. However for every $25 increase per month, there will be 3 vacancies with no possiability of filling them. The firm wants to receive $ 54,600 fom rent. a - set up an appropriate equation b-what rent should be charge for each apartment
A real estate agent suggests that the mean rent for a one-bedroom apartment in Blue View...
A real estate agent suggests that the mean rent for a one-bedroom apartment in Blue View is $575 per month. A random sample shows the dollar amount below. Assume a Normal distribution with a standard deviation of $50. Construct and interpret a 93% confidence interval for the corresponding population mean. 550 475 560 460 535 609 514 531 612 605 550 650 Identify the proper Test or Confidence interval: Complete the Test or Confidence Interval.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT