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Math Help - Demand, Revenue, Maximize

  1. #1
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    Demand, Revenue, Maximize

    The manager of a 150-unit apartment complex knows from experience that all units will be occupied if the rent is $800 per month. A market survey suggests that, on average, one additional unit will remain vacant for each $10 increase in rent. Find,
    a) the demand (or price) function assuming that it is linear
    b) the revenue;
    c) the rent that will maximize the revenue.
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  2. #2
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    Quote Originally Posted by drahcirnaw View Post
    The manager of a 150-unit apartment complex knows from experience that all units will be occupied if the rent is $800 per month. A market survey suggests that, on average, one additional unit will remain vacant for each $10 increase in rent. Find,
    a) the demand (or price) function assuming that it is linear
    b) the revenue;
    c) the rent that will maximize the revenue.
    let x = number of $10 increases

    revenue , R(x) = (150-x)(800+10x)
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