A company handles an apartment building with 70 units. Experience has shown that if the rent for each of the units is $1240 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 $1380 per month? $ |
A company handles an apartment building with 70 units. Experience has shown that if the rent for each of the units is $1240 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 $1380 per month? $ |
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter8: Functions
Section8.7: Direct And Inverse Variation
Problem 36PS
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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 $1240 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 $1380 per month?
$](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff3e466e0-690e-4d99-9c67-cebe5f2c4867%2Fea563e99-65a9-42f9-9e8a-1aa41a43683d%2Fw04c9i_processed.png&w=3840&q=75)
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 $1240 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 $1380 per month?
$
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