Question
A real estate office manages an apartment complex with50units. When the rent is$750per month, all50units are occupied. However, when the rent is$810, the average number
A real estate office manages an apartment complex with50units. When the rent is$750per month, all50units are occupied. However, when the rent is$810, the average number of occupied units drops to46. Assume that the relationship between the monthly rentpand the demandxis linear. (Note: the termdemandrefers to the number of occupied units.)
(a) Write a linear equation giving the demandxin terms of the rentp.
x(p) =
(b) Use a graphing utility to graph the demand equation and use thetracefeature to predict the number of units occupied if the rent is raised to$825.
units
(c) Predict the number of units occupied if the rent is lowered to$795. Verify graphically.
units
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