TAMU_QID: TAMU_bc_002 The manager of a large apartment complex knows from experience that 100 units will be occupied if the rent is 424 dollars per month. A market survey suggests that, on the average, one additional unit will remain vacant for each 1 dollar increase in rent. Similarly, one additional unit will be occupied for each 1 dollar decrease in rent. (a) If a is the number of units rented, and p is the rent per unit in dollars, what is the price-demand equation (assuming it is linear)? P = (b) What is the monthly revenue function for the manager? (Hint: Revenue is the product of the price per item and the number of items.) R(I) = (c) How many apartment units should be rented to maximize the monthly revenue? apartment units (d) What is the maximum monthly revenue for the manager? Round your answer to the nearest cent if necessary. dollars (e) What rent should the manager charge to maximize the monthly revenue? Round your answer to the nearest cent if necessary. dollars per unit