revenue = rent * apts
if there are x $7 increases, then we have
rent = 294+7x
units rented = 120-x
So, the revenue will be
(294+7x)(120-x) = -7x^2 + 546x + 35280
Recall that the vertex of a parabola is at x = -b/2a, which in this case is
x = 546/14 = 39
So, with 39 rent increases,
rent = 294 + 7*39 = $567
and there will be 120-39 = 81 units rented.
My professor won't be back for a week and we have an exam tomorrow. The sub was going over a problem towards this question but I barely understood her. Tried to speak to her after class but she was very impatient. I need help please.
The manager of a large apartment complex knows from experience that 120 units will be occupied if the rent is 294 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. What rent should the manager charge to maximize revenue?
4 answers
OK so we have two equations from the word problem and we need to equal them our and basically find the 0 ?
apparently you stopped reading before finishing things. Read on past where it says
So, the revenue will be ...
So, the revenue will be ...
No I read the work I over looked it by accident. i see you multiplied it into a polynomial function.
And you have used the vertex in order to find x and that's the only way to find x? or is there an alternative ?
And you have used the vertex in order to find x and that's the only way to find x? or is there an alternative ?
3 answers