Asked Apr 9, 2019

Stadium View Apartment  Complex has 20 apartments to rent. Historical data

            Trend suggests that any time rent increases by $50.00 per month one apartment

            becomes vacant. The current rent is $400.00 per month. How many $50.00

            increases will enable Stadium View Apartments maximize its total monthly rent





Expert Answer

Step 1

The total apartments to rent = 20

If rent increase by $50 per month then one apartment becomes vacant.

The current rent per month = $400

Assuming the total apartments are occupied

Revenue = 20*400 = $8000 per month.

Step 2

Let x be the number of times rent is increased by $50. So the total number of apartments get vacate = x.

Total number of apartments occuoied = 20-x

The rent per ...

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