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maximum revenue problem?
The manager of a large apartment complex knows from experience that 110 units will be occupied if the rent is 500 dollars per month. A market survey suggests that, on the average, one additional unit will remain vacant for each 1 dollar increase in rent. Similarly, one additional unit will be occupied for each 1 dollar decrease in rent. What rent should the manager charge to maximize revenue?
- BryceLv 72 months ago
R= (500 + x)(110 - x)= 55000 - 390x - x²
dR/dx= -2x - 390= 0; x= -195
rent= 500 - 195= $305