Question: In a 100-unit apartment building, when the price charged per apartment rental is (830 + 30x) dollars, then the number of apartments rented is 100

In a 100-unit apartment building, when the price charged per apartment rental is (830 + 30x) dollars, then the number of apartments rented is 100 - x and the total revenue for the building is
R(x) = (830 + 30x) (100 - x)
where x is the number of $30 rent increases (and also the resulting number of unrented apartments). Find the marginal revenue when x = 10. Does this tell you that the rent should be raised (causing more vacancies) or lowered? Explain.

Step by Step Solution

★★★★★

3.45 Rating (184 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Rx 830 30x 100 x Rx 830 30x 1 100 x 30 830 30x ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

1386-M-C-L-A-D(4019).docx

120 KBs Word File

Students Have Also Explored These Related Calculus Questions!

A real estate office handles an apartment building that has 50 units. When the rent is $540 per month, all units are occupied. However, for each $30 increase in rent, one unit becomes vacant. Each...

Maximum Revenue The total revenue R earned per day (in dollars) from a pet-sitting service is given by R(p) = 12p2 + 150p, where p is the price charged per pet (in dollars). (a) Find the revenues...

1. A shipping crate has a square base with sides of length x feet, and it is half as tall as it is wide. If the material for the bottom and sides of the box costs $2.00 per square foot and the...

In a 100-unit apartment building when the price charged per apartment rental is (860 + 20x) dollars, the number of apartments rented is 100 - x and the total revenue for the building is R(x) = (860 +...

13. [-/0 Points] HARMATHAP12 9.R.094. 0/100 Submissions Used ASK YOUR TEACHER In a 100-unit apartment building when the price charged per apartment rental is (880 + 20x) dollars, the number of...

Homework Assignment #3 Impact fees 1 of 1 Due: Tuesday, November 5 (at the beginning of class) Total points 20 points 1. Impact fee program on sewer facilities (20 points) The current population of...

Marginal Cost The total weekly cost (In dollars) Incurred by Lincoln Records In pressing x compact discs Is glven by the following function. C(x) = 2000 + 2x moon2 (0 s x s 6000) (a) What is the...

ent-Responses/last?dep=29688167 1. [-/4 Points] DETAILS TANAPCALC10 3.4.003. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Marginal Cost The total weekly cost (in dollars) incurred by Lincoln Records in...

Please give me the answers for this one Write the Excel formula for each cell marked with "?" in column B of the spreadsheet below, and label each formula clearly. List all the constraints in terms...

JUST WANT ANSWERS FOR THIS Thank you Write the Excel formula for each cell marked with "?" in column B of the spreadsheet below, and label each formula clearly. List all the constraints in terms of...

What is the difference between horizontal integration and vertical integration? How does antitrust policy affect the nature of mergers?

Three pieces of lumber measure 5 3/8 feet, 7 feet, and 9 feet, What is the total length of the number?

In Java, what does the statement Integer width = 2 ; imply? a . width is a variable directly storing the value 2 in memory. b . width is a reference to an object in memory that contains the value 2 ....

5. The GoodnFresh Grocery Store has two checkout lanes and four employees. Employees are equally skilled, and all are able either to operate a register (cashiers) or bag groceries (baggers). The...

(a) If the point (5, 3) is on the graph of an even function, what other point must also be on the graph? (b) If the point (5, 3) is on the graph of an odd function, what other point must also be on...

A function f has domain [ 5, 5] and a portion of its graph is shown. (a) Complete the graph of f if it is known that f is even. (b) Complete the graph of f if it is known that f is odd.

Determine whether f is even, odd, or neither. If f is even or odd, use symmetry to sketch its graph. 61. f(x) = x 63. f(x) = x + x 62. f(x) x 64. f(x) = x* - 4x 66. f(x) = 3x' + 2x + 1 65. f(x) = x'...

Sawyer Corporation's 2018 sales were 57 million. Its 2013 sales were $3.5 million a. At what rate have sales been growing? Round your answer to two decimal places. b. Suppose someone made this...

Assume that there are two stocks in the world (STOCK A and STOCK B) as presented below: STOCK P0 Q0 P1 Q1 A 35 200 29.75 200 B 30 100 27 100 P0 represents the price per share at time period 0...

What is the net present value for a project with the following cash flow projections? Discount rate is 1 0 % . \ table [ [ Outlay , year 1 , year 2 , year 3 ] , [ - $ 2 , 0 0 0 , $ 5 0 0 , $ 2 0 0 ,...