Rent to maximize revenue

by | Aug 17, 2021 | Assignment Help

The manager of a large apartment complex knows from experience that 80 units will be occupied if the rent is 300 dollars per month. A market survey suggests that, on the average, one additional unit will remain vacant for each 6 dollar increase in rent. Similarly, one additional unit will be occupied for each 6 dollar decrease in rent. What rent should the manager charge to maximize revenue?

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