A real estate office handles a 60-unit apartment complex. When the rent is $520 per month, all units are occupied. For each $40 increase in rent, however, an average of one unit becomes vacant. Each occupied unit requires an average of $45 per month for service and repairs. What rent should be charged to obtain a maximum profit?
A real estate office handles a 60-unit apartment complex. When the rent is $520 per month, all units are occupied. For each $40 increase in rent, however, an average of one unit becomes vacant. Each occupied unit requires an average of $45 per month for service and repairs. What rent should be charged to obtain a maximum profit?
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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Transcribed Image Text:A real estate office handles a 60-unit apartment complex. When the rent is $520 per month, all units are occupied. For each $40 increase in rent, however, an average of one unit becomes
vacant. Each occupied unit requires an average of $45 per month for service and repairs. What rent should be charged to obtain a maximum profit?
Expert Solution
Step 1
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.
tota units are 60
and rent of each unit is $520 per month
For each $40 increase in rent, however, an average of one unit becomes vacant
let x=number of vacant units
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