A 100-apartment building in a city is fully occupied every month when the rent per month is
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A 100-apartment building in a city is fully occupied every month when the rent per month is $500 per apartment. For each $40 increase in the monthly rent, 5 fewer apartments are rented. If each rented apartment costs $20 a month to service, how much should the management charge per apartment in order to maximize gross profit? What is the maximum gross profit?
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Related Book For
College Mathematics For Business Economics Life Sciences And Social Sciences
ISBN: 9780321945518
13th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen
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