of a large apartment complex knows from experience that 100 units will be occupied if the rent is 490 dollars per month. A market survey suggests that, on the average, The manager one additional unit will remain vacant for each 7 dollar increase in rent. Similarly, one additional unit will be occupied for each 7 dollar decrease in rent. (a) If æ is the number of units rented, and p is the rent per unit in dollars, what is the price-demand equation (assuming it is linear)? P – (b) What is the monthly revenue function for the manager? (Hint: Revenue is the product of the price per item and the number of items.) R(x) =
of a large apartment complex knows from experience that 100 units will be occupied if the rent is 490 dollars per month. A market survey suggests that, on the average, The manager one additional unit will remain vacant for each 7 dollar increase in rent. Similarly, one additional unit will be occupied for each 7 dollar decrease in rent. (a) If æ is the number of units rented, and p is the rent per unit in dollars, what is the price-demand equation (assuming it is linear)? P – (b) What is the monthly revenue function for the manager? (Hint: Revenue is the product of the price per item and the number of items.) R(x) =
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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Question
![The manager of a large apartment
complex knows from experience that
100 units will be occupied if the rent is
490 dollars
per
month. A market
survey suggests that, on the average,
one additional unit will remain vacant
for each 7 dollar increase in rent.
Similarly, one additional unit will be
occupied for each 7 dollar decrease in
rent.
(a) If æ is the number of units rented,
and p is the rent per unit in dollars,
what is the price-demand equation
(assuming it is linear)?
P
(b) What is the monthly revenue
function for the manager?
(Hint: Revenue is the product of the
price per item and the number of
items.)
R(x) =](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F034f8a4e-d63e-4e0e-8d5c-e85e8f2a5ad2%2F18cd65fb-830e-4a5c-ac10-835e416b81dd%2Fipaecz_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The manager of a large apartment
complex knows from experience that
100 units will be occupied if the rent is
490 dollars
per
month. A market
survey suggests that, on the average,
one additional unit will remain vacant
for each 7 dollar increase in rent.
Similarly, one additional unit will be
occupied for each 7 dollar decrease in
rent.
(a) If æ is the number of units rented,
and p is the rent per unit in dollars,
what is the price-demand equation
(assuming it is linear)?
P
(b) What is the monthly revenue
function for the manager?
(Hint: Revenue is the product of the
price per item and the number of
items.)
R(x) =
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