A Real Estate Office Handles an Apartment Complex with 50

question 56

Multiple Choice

A real estate office handles an apartment complex with 50 units.When the rent is $700 per month,all 50 units are occupied.However,when the rent is $745,the average number of occupied units drops to 47.Assume that the relationship between the monthly rent p and the demand x is linear.Predict the number of units occupied if the rent is raised to $790. ​

• A)41 units
• B)56 units
• C)59 units
• D)47 units
• E)44 units

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Definitions:

Age Cohort

A group of individuals who share similar time of birth, experiencing similar societal events and life stages at approximately the same time.

Ambivalence

The state of having mixed feelings or contradictory ideas about something or someone.

Debilitating Illness

A disease or condition that significantly impairs the physical or mental ability of an individual, affecting their day-to-day functioning.

Paid Labor Force

People who are in employment and get paid for their labor, unlike volunteers or those interning without pay.