A 100-apartment building in a city is fully occupied every month when the rent per month is

Question:

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?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: