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23 December, 06:11

The manager of a 100-unit apartment complex knows from experience that all units will be occupied if the rent is $800 per month. A market survey suggests that, on average, one additional unit will remain vacant for each $10 increase in rent. What rent should the manager charge to maximize revenue?

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  1. 23 December, 06:23
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    800 * 100 = 80000

    810 * 99 = 80190

    900 * 90 = 81000

    1000 * 80 = 80000

    (800 + 10n) (100-1n)

    = (800 + 10 (11)) (100 - 11) (910) (89) = 80990
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