Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A real estate office handles an apartment complex with 50 units. When the rent per unit is $580 per month, all 50 units are occupied.

A real estate office handles an apartment complex with 50 units. When the rent per unit is $580 per month, all 50 units are occupied. However, when the rent is $625 per month, the average number of occupied units drops to47. Assume that the relationship between the monthly rentpand the demandxis linear.

(a) Write the equation of the line giving the demandxin terms of the rentp.

x=

(b) Use a graphing utility to graph the demand equation and use thetracefeature to estimate the number of units occupied when the rent is$655. Verify your answer algebraically.

____units

(c) Use the demand equation to predict the number of units occupied when the rent is lowered to$595. Verify your answer graphically.

_____units

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Calculus For Scientists And Engineers Early Transcendentals

Authors: William L Briggs, Bernard Gillett, Bill L Briggs, Lyle Cochran

1st Edition

0321849213, 9780321849212

More Books

Students also viewed these Mathematics questions

Question

Trace Greek medical thought from Aesculapius to Hippocrates.

Answered: 1 week ago