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What rent should the manager charge to maximize revenue?: Optimization Problem Calculus?
The manager of a large apartment complex knows from experience that 100 units will be occupied if the rent is 468 dollars per month. A market survey suggests that, on the average, one additional unit will remain vacant for each 9 dollar increase in rent. Similarly, one additional unit will be occupied for each 9 dollar decrease in rent. What rent should the manager charge to maximize revenue? PLEASE HELP!
(100-X)(468 +9X)=
(100+X)(468-9X)=
y=-9x^2+432x+46800
dy/dx=432-18x
0=432-18x
x=24
$252.00 rent for max revenue
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