What is the maximum revenue

Reference no: EM13180149

A real estate company manages 150 apartments in Irvine, California. All the apartments can be rented at the price of $1,200 per month, but for every $100 increase in the monthly rent, there will be 5 additional vacancies.
a) Express the total monthly revenue R obtained from renting apartments as a function of the monthly rental price p for each unit.
b) What price should the company charge in order to maximize total revenue? What is the maximum revenue?

Reference no: EM13180149

Questions Cloud

Explain the concentration of the unknowns have been too high : If the mass of the Co(NO3)2*6H20 obtained to prepare the stock solution had been more than the mass that you recorded would the concentration of the unknowns have been too high

According to the model what is the distance : The distance, D, in miles, that you can drive on $1 worth of gas as a function of the cost, g, in dollars, of a gallon of gas can be modeled by the power function: D(g) = 22.02g^-1.02

Compute and interpret the meaning of the instaneous rate : Compute and interpret the meaning of the instaneous rate of change at t=11

Explain how does the hydrogen ion or the hydronium ion : How does the hydrogen ion (H+) [or the hydronium ion (H3O+)] and the hydroxide ion (OH-) fit into all of this? What is their role in this reaction?

What is the maximum revenue : What price should the company charge in order to maximize total revenue? What is the maximum revenue?

Explain how many total moles of oxygen gas can be generated : How many total moles of oxygen gas can be generated through this decomposition? B. If this oxygen is formed within the bottle described in question 1, what change in pressure would be predicted?

Calculate e(x) and var(x) : Let U be a uniform random variable on the interval (-pi/2, pi/2). Let X=sinU. Find the probability density function of X and calculate E(X) and var(X).

How long after the rocket is launched it will hit the ground : Use the quadratic formula to find out how long after the rocket is launched it will hit the ground. Round to the nearest tenth of a second.

Compute the expected profit associated with each posible : Compute the expected profit associated with each posible production level (assuming Tom will only produce at one of the possible demand levels) for each type of pizza.

User Account

All Pages