A company handles an apartment building with 50 units. Experience has shown that if the rent for each of the units is $720 per month, all of the units will be lled, but 1 unit will become vacant for each $20 increase in this monthly rate. At what price is revenue maximum? What is the maximum revenue and how many apartments are rented to reach this max?

Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter12: Algebra Of Matrices
Section12.CR: Review Problem Set
Problem 37CR
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A company handles an apartment building with 50 units. Experience has shown
that if the rent for each of the units is $720 per month, all of the units will be lled, but 1
unit will become vacant for each $20 increase in this monthly rate. At what price is revenue
maximum? What is the maximum revenue and how many apartments are rented to reach
this max?
1

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