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A real estate agent agrees to sell an apartment complex according to the following commission schedule: $50,000 plus 20% of the selling price in excess
A real estate agent agrees to sell an apartment complex according to the following commission schedule:
$50,000
plus
20%
of the selling price in excess of
$850,000.
Assuming that the complex will sell at some price between
$850,000
and
$1,100,000
inclusive, over what range does the agent's commission vary? How does the commission vary as a percent of selling price?
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