A Company Handles an Apartment Building with 80 Units

question 108

Multiple Choice

A company handles an apartment building with 80 units. Experience has shown that if the rent for each of the units is $360 per month, all the units will be filled, but 1 unit will become vacant for each $10 increase in the monthly rate. What rent should be charged to maximize the total revenue from the building if the upper limit on the rent is $600 per month? ​

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Definitions:

Multiplication

A fundamental mathematical operation that represents the repeated addition of a number by itself a specified number of times.

Division

In business, a division refers to a distinct part of a company that focuses on a particular market, product line, or service, often operating with a certain degree of independence.

Decimal Point

A symbol used to separate the integer part from the fractional part of a number in decimal notation.

Multiplication

An arithmetic operation that combines two numbers to produce a product.