A real estate office manages an apartment complex with 50 units. When the rent is $790 per month, all 50 units are occupied. However, when the rent is $834, the average number of occupied units drops to 46. Assume that the relationship between the monthly rent p and the demand x is linear. (Note: the term demand refers to the number of occupied units.) (a) Write a linear equation giving the demand x in terms of the rent p. x (p) = (b) Use a graphing utility to graph the demand equation and use the trace feature to predict the number of units occupied if the rent is raised to $845. units (c) Predict the number of units occupied if the rent is lowered to $823. Verify graphically. units

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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A real estate office manages an apartment complex with 50 units. When the rent is $790 per month, all 50 units are occupied. However, when the rent is $834, the average number of occupied
units drops to 46. Assume that the relationship between the monthly rent p and the demand x is linear. (Note: the term demand refers to the number of occupied units.)
(a) Write a linear equation giving the demand x in terms of the rent p.
x (p)
=
(b) Use a graphing utility to graph the demand equation and use the trace feature to predict the number of units occupied if the rent is raised to $845.
units
(c) Predict the number of units occupied if the rent is lowered to $823. Verify graphically.
units
Transcribed Image Text:A real estate office manages an apartment complex with 50 units. When the rent is $790 per month, all 50 units are occupied. However, when the rent is $834, the average number of occupied units drops to 46. Assume that the relationship between the monthly rent p and the demand x is linear. (Note: the term demand refers to the number of occupied units.) (a) Write a linear equation giving the demand x in terms of the rent p. x (p) = (b) Use a graphing utility to graph the demand equation and use the trace feature to predict the number of units occupied if the rent is raised to $845. units (c) Predict the number of units occupied if the rent is lowered to $823. Verify graphically. units
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