MATA32H3 Quiz: MATA32H3 Quiz 1 2010 Winter Solution

54 views2 pages
16 Oct 2018
School
Department
Course
Professor
lily.dilaudo and 39833 others unlocked
MATA32H3 Full Course Notes
53
MATA32H3 Full Course Notes
Verified Note
53 documents

Document Summary

Key: a real-estate rm owns the upscale parkvale avenue apartments, which consist of 100 apartments. At per month, every apartment can be rented out. However, for each per month increase in rent, there will be 2 new vacancies with no possibility of lling them. Rm wants to receive exactly ,000 per month from rent. Let n denote the number of increases the rm needs over the base rent of per month to make their target revenue of ,000 per month. Then the total number of vacancies is 2n, which means that. Each of them will pay 700 + 50n dollars per month for rent, so the total revenue for the rm is (100 2n)(700 + 50n) = 70000 + 3600n 100n2. Since the total revenue is supposed to be ,000 we must have. Simplifying this, we nd n2 36n + 320 = 0. Thus to attain their target revenue, the rm should charge or.