APPLIED PROBLEMS 9. The manager of an 80-unit apartment complex is trying to decide on the rent to charge. It is known from experience that at a rent of $300 per month all units will be full. On average, though, one additional un to remain vacant for each $5 increase in rent. Also assume that the monthly cost of operating the apartme is $1,000 plus $20 per occupied unit. a. b. Find the rent that will yield the maximum revenue and the amount of that revenue. Determine the rent that will maximize profit.
APPLIED PROBLEMS 9. The manager of an 80-unit apartment complex is trying to decide on the rent to charge. It is known from experience that at a rent of $300 per month all units will be full. On average, though, one additional un to remain vacant for each $5 increase in rent. Also assume that the monthly cost of operating the apartme is $1,000 plus $20 per occupied unit. a. b. Find the rent that will yield the maximum revenue and the amount of that revenue. Determine the rent that will maximize profit.
Chapter7: Systems Of Equations And Inequalities
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Transcribed Image Text:APPLIED PROBLEMS
9. The manager of an 80-unit apartment complex is trying to decide on the rent to charge. It is known from
experience that at a rent of $300 per month all units will be full. On average, though, one additional unit will
remain vacant for each $5 increase in rent. Also assume that the monthly cost of operating the apartment complex
is $1,000 plus $20 per occupied unit.
a.
b.
Find the rent that will yield the maximum revenue and the amount of that revenue.
Determine the rent that will maximize profit.
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