All units in a 100-unit apartment building are rented out when the monthly rent is set at
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All units in a 100-unit apartment building are rented out when the monthly rent is set at r = $900/month. Suppose that one unit becomes vacant with each $10 increase in rent and that each occupied unit costs $80/mon in maintenance. Which rent r maximizes monthly profit?
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Let n denote the number of 10 increases in rent Then the monthl...View the full answer
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