A company handles an apartment building with 70 units. Experience has shown that if the rent for each of the units is $1120 per month, all the units will be filled, but 1 unit will become vacant for each $20 increase in the monthly rate. What rent should be charged to maximize the total revenue from the building if the upper limit on the rent is $1320 per month?

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
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A company handles an apartment building with 70 units. Experience has shown that if the rent for each of the units is $1120 per month, all the units will be filled, but 1 unit will become vacant for each $20 increase in the
monthly rate. What rent should be charged to maximize the total revenue from the building if the upper limit on the rent is $1320 per month?
Transcribed Image Text:A company handles an apartment building with 70 units. Experience has shown that if the rent for each of the units is $1120 per month, all the units will be filled, but 1 unit will become vacant for each $20 increase in the monthly rate. What rent should be charged to maximize the total revenue from the building if the upper limit on the rent is $1320 per month?
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