1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Schach [20]
3 years ago
10

(1 pt) The manager of a large apartment complex knows from experience that 90 units will be occupied if the rent is 420 dollars

per month. A market survey suggests that, on the average, one additional unit will remain vacant for each 3 dollar increase in rent. Similarly, one additional unit will be occupied for each 3 dollar decrease in rent. What rent should the manager charge to maximize revenue?
Business
1 answer:
klasskru [66]3 years ago
3 0

Answer:

Monthly rent of $345 would maximize revenue

Explanation:

Revenue = Price * Quantity

Quantity depends on price. We need to work out the relationship between price and quantity (that is, the demand function)

When the rent is $420, quantity demanded is 90 units:

When P = 420 we have Q = 90

Let x be the change in price. For every 3 dollar increase (decrease) in price demanded quantity will decrease (increase) 1 unit:

P = 420 + x (a) we have Q = 90 - x/3 (b)

To find the relationship between P and Q we seek to eliminate x.

Multiply both sides of (b) with 3 we have: 3Q = 270 - x (b')

From (a) and (b') we have: P + 3Q = 420 + x + 270 - x

=> P = 690 - 3Q

Revenue R = P * Q = (690 - 3Q) * Q = 690Q - 3Q^2

To find maximum set derivative of R to 0:

dR = 690 - 6Q = 0

=> Q = 690/6 = 115

To lease 115 the price should be P = 690 - 3Q = 690 - 3*115 = 345

You might be interested in
Portia Grant is an employee who is paid monthly. For the month of January of the current year, she earned a total of 8,638. The
mina [271]

Answer:

Net Pay = Gross Pay - Federal Income Tax - FICA-SS Tax - FICA-Medicare Tax

Net Pay = $8,260.00 - $1,325.17- $512.12 - $119.77* = $6,302.94

Explanation:

4 0
3 years ago
It will gain you more knowledge, intensify your soft skills ethics and grow your network
Paha777 [63]
Awareness.

If you can manage a key component of Emotional Intelligence: Active Listening, you’ll start to learn more because people will trust you, you’ll get better with people and meet more, and you’ll start to see success in work and in life.

Combine your ability to actively listen (to hear and understand what people are saying and demonstrate it) with:

Charisma, grativas, animus
Trustworthyness, authenticity, compassion
Empathy, intelligence and understanding
And you’ll get all those things you asked about because you’ll start to realise it isn’t about you: it’s about everyone else.
5 0
3 years ago
Read 2 more answers
What is the effect on real GDP of a ​$150 billion change in planned investment if the MPC is ​0.65? ​$ nothing billion. ​(Enter
ExtremeBDS [4]

Answer and Explanation:

The computation of the effect on real GDP is shown below:

change in GDP is

= Multiplier × change in investment

= 1 ÷ (1 - MPC) × change in investment

= 1 ÷ (1 - 0.65) × $150 billion

= 2  × $150 billion

= $300 billion

And, the marginal propensity to consume is

= Change in spending of consumer ÷ income change

= (2,100 - 1,200) ÷ (4,000 - 3,000)

= 900 ÷ 1,000

= 0.9

6 0
2 years ago
Certain brand names, such as Kleenex or Xerox, have become _______, because they are so commonly identified with a specific prod
kogti [31]

<u>Answer</u>: Certain brand names, such as Kleenex or Xerox, have become generic name.

<u>Explanation:</u>

Generic name is the term used to refer a product with its brand name rather than the product itself. Kleenex  and Xerox are the brand names of the products. Xerox is photocopying product and Kleenex is the brand name for wet wipes. People commonly use the word Kleenex instead of tissues or wet wipes.

This process can be called as genericization and companies loose their trademarks due to these usage of names. These generic names have wide spread popularity.

7 0
3 years ago
Exercise 2-6 Analyzing account entries and balances LO A1 Use the information in each of the following separate cases to calcula
VARVARA [1.3K]

Answer:

a) Corentine Co.

Cash paid to suppliers:

Beginning balance, September 30 $152,000

Purchases                                         $281,000

Ending balance, October 31            $132,500

Cash paid                                        $300,500

b) Valerian Co.

Sales to customers on account:

Ending balance, October 31              $89,000

Cash collected                                  $102,890

Beginning balance, September 30 $102,500

Sales                                                   $89,390

c) Alameda Company

Cash balance on September 30:

Cash disbursements $103,150

Balance, October 31   $18,600

Cash receipts           $102,500

Balance, Sept. 30       $19,200

Explanation:

The unknown amount for each case is the difference between the opening balance, the transactions for the month of October and closing balance.

5 0
3 years ago
Other questions:
  • Marketers are viewing information not only as an input for making better decisions but also as​ a(n) ______________.
    11·1 answer
  • ssume you are the Chief Information Officer (CIO)1 of the company that you dream of (any company, real or hypothetical). Give a
    12·1 answer
  • Al contracted to sell his house to bev. subsequently, they both changed their minds and agreed to cancel the contract. the contr
    13·1 answer
  • Sari, a movie theater manager, recently implemented a policy stating that workers who are willing to work a double shift on Frid
    15·2 answers
  • The following events took place for Rushmore Biking Inc. during February, the first month of operations as a producer of road bi
    6·1 answer
  • One component of the pension liability under both U.S. GAAP and IFRS is prior service cost (or past service cost under IFRS). AB
    11·1 answer
  • Frank, a marketing manager, has often noticed that his team members do not communicate with each other and are rarely present fo
    13·1 answer
  • A monopolistically competitive firm chooses A. price, but output is determined by a cartel production quota.B. the price, but co
    14·1 answer
  • All other things unchanged, a general decrease in the amount of government borrowing will typically: a increase interest rates.
    5·1 answer
  • The IMF projects that​ China's real GDP per person will be​ 57,163 yuan in 2017 and​ 60,334 yuan in 2018 and that​ India's real
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!