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Lakeside Apartments is a 750-unit apartment complex. When the apartments are 90% occupled, monthly operating costs total $217,150. When occupancy dips to 80%, monthly operating costs fall to S212,800. The owner of the apartment complex is worried because many of the apartment residents work at a nearty manufacturing plant that has just announced it will close in three months. The apartment owner fears that occupancy of her apartments will drop to 65% if residents lose their jobs and move away. Assuming the same relevant range, what can the owner expect her operating costs to be if occupancy falls to 65%? Let's begin by determining the formula that is used to calculate the variable cost (slope). Change in cost Change in volume = Variable cost (slope) Now determine the formula that is used to calculate the fixed cost component. Total operating cost Total variable cost = Fixed cost Use the high-low method to determine Lakeside's operating cost equation. y= x+ Help me solve this Video Get more help Clear all Check