In a 100-unit apartment building when the price charged per apartment rental is (820 + 40x) dollars, the number of apartments rented is 100- x and the total revenue for the building is R(x) = (820 + 40x) (100-x), where x is the number of $40 rent increases (and the resulting number of unrented apartments). Find the marginal revenue (in dollars) when x = 10. $ Does this tell you that the rent should be raised (causing more vacancies) or lowered? Explain. The rent should not be raised. An 11th rent increase would increase ✓revenue.
In a 100-unit apartment building when the price charged per apartment rental is (820 + 40x) dollars, the number of apartments rented is 100- x and the total revenue for the building is R(x) = (820 + 40x) (100-x), where x is the number of $40 rent increases (and the resulting number of unrented apartments). Find the marginal revenue (in dollars) when x = 10. $ Does this tell you that the rent should be raised (causing more vacancies) or lowered? Explain. The rent should not be raised. An 11th rent increase would increase ✓revenue.
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
Related questions
Question
raised/not raised and increase/decrease
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 12 images
Recommended textbooks for you
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
Trigonometry (MindTap Course List)
Trigonometry
ISBN:
9781337278461
Author:
Ron Larson
Publisher:
Cengage Learning
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
Trigonometry (MindTap Course List)
Trigonometry
ISBN:
9781337278461
Author:
Ron Larson
Publisher:
Cengage Learning
Intermediate Algebra
Algebra
ISBN:
9781285195728
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
Elementary Algebra
Algebra
ISBN:
9780998625713
Author:
Lynn Marecek, MaryAnne Anthony-Smith
Publisher:
OpenStax - Rice University