The manager of a large apartment complex knows from experience that 120 units will be occupied if the rent is 374 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? Answer: $ [Recall: Revenue is the product of price per unit and number of units rented.]

The manager of a large apartment complex knows from experience that 120 units will be occupied if the rent is 374 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? Answer: $ [Recall: Revenue is the product of price per unit and number of units rented.]

College Algebra (MindTap Course List)

12th Edition

ISBN:9781305652231

Author:R. David Gustafson, Jeff Hughes

Publisher:R. David Gustafson, Jeff Hughes

Chapter6: Linear Systems

Section6.8: Linear Programming

Problem 3SC: In Example 3, if the accountant earns a profit of 100 on each individual return and a profit of 175...

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