The owner of an apartment building can rent all 60 apartments if she charges $1,800 per month, but she rents one fewer apartment for each $60 increase in monthly rent.(a) Construct a table that gives the revenue generated if she charges $1,800, $1,860, and $1,920.No. of AptsRent Total Revenue60$1,800 $59$1,860 $58$1,920 $(b) Does her revenue from apartment rentals increase or decrease as she increases the rent from $1,800 to $1,920?O revenue increasesO revenue decreases(c) Write an equation that gives the revenue R, from apartment rentals if she makes x increases of $60 in the rent.R(x)=(d) Find the rent she should charge to maximize her revenue.$per month

For a specific set of data, a trend line can be found. Straight lines are the easiest to draw. We…

The owner of an apartment building can rent all 60 apartments if she charges $1,800 per month, but she rents one fewer apartment for each $60 increase in monthly rent. (a) Construct a table that gives the revenue generated if she charges $1,800, $1,860, and $1,920. No. of Apts Rent Total Revenue 60 $1,800 $ $1,860 $ $1,920 $ 59 58 (b) Does her revenue from apartment rentals increase or decrease as she increases the rent from $1,800 to $1,920? O revenue increases O revenue decreases (c) Write an equation that gives the revenue R, from apartment rentals if she makes x increases of $60 in the rent. R(x) = (d) Find the rent she should charge to maximize her revenue. per month

The owner of an apartment building can rent all 60 apartments if she charges $1,800 per month, but she rents one fewer apartment for each $60 increase in monthly rent. (a) Construct a table that gives the revenue generated if she charges $1,800, $1,860, and $1,920. No. of Apts Rent Total Revenue 60 $1,800 $ $1,860 $ $1,920 $ 59 58 (b) Does her revenue from apartment rentals increase or decrease as she increases the rent from $1,800 to $1,920? O revenue increases O revenue decreases (c) Write an equation that gives the revenue R, from apartment rentals if she makes x increases of $60 in the rent. R(x) = (d) Find the rent she should charge to maximize her revenue. per month

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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