RENTAL DEMAND A real estate office handles an apartment complex with 50 units. When the
Chapter 2, Problem 132(choose chapter or problem)
RENTAL DEMAND A real estate office handles an apartment complex with 50 units. When the rent per unit is $580 per month, all 50 units are occupied. However, when the rent is $625 per month, the average number of occupied units drops to 47. Assume that the relationship between the monthly rent and the demand is linear. (a) Write the equation of the line giving the demand in terms of the rent (b) Use this equation to predict the number of units occupied when the rent is $655. (c) Predict the number of units occupied when the rent is $595.
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