Annie's Apartments is looking to maximize their revenue this year. Annie noticed that when rent was set at $300 that 100 of her units were occupied, but that when she raised her rent to $350 only 90 of her units were occupied. Assuming a linear relation between rent prices and number of units occupied, what price should Annie charge to maximize her revenue from Annie's Apartments? (You must show work that has you finding the revenue function as well as a critical value on that function.)
Annie's Apartments is looking to maximize their revenue this year. Annie noticed that when rent was set at $300 that 100 of her units were occupied, but that when she raised her rent to $350 only 90 of her units were occupied. Assuming a linear relation between rent prices and number of units occupied, what price should Annie charge to maximize her revenue from Annie's Apartments? (You must show work that has you finding the revenue function as well as a critical value on that function.)
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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