question archive A real estate agency handles an apartment complex with 250 units
A real estate agency handles an apartment complex with 250 units
Subject:MathPrice: Bought3
A real estate agency handles an apartment complex with 250 units.
When the rent per unit is $980 per month, all 250 units are occupied. However, when the rent is $1045 per month, the average number of occupied units drops to 237. Assuming the relationship between the monthly rent p and the demand x is linear:
a) Write a equation of the line giving the demand x in terms of the rent p.
b) Use the equation from part (a) to predict the number of units occupied when the rent is $1150.
c) Suppose 145 units are occupied. Using the equation from part (a), predict the monthly rent.
