The owner of an apartment building has 100 apartments. He has found that if he charges $500 per month he can rent all 100 of them but he rents one fewer apartment for each $25 increase in monthly rent. a. Write an equation that gives the monthly revenue from the rental of the apartments if he makes x increases of $25 in the rent. b. Find the rent he should charge to maximize the monthly revenue and the number of apartments he will rent by charging this amount. c. Suppose the landlord pays for water, sewer, and electricity at his apartments for a cost of $50 per apartment per month. Write an equation that gives the monthly cost to the landlord after x price increases of $25. d. Write an equation that gives the monthly profit the landlord makes, and the rent he should charge to maximize his monthly profit, and the number of apartments he will rent by charging this amount. e. Explain why you know mathematically your solutions to (2) and (4) are maximum values. f. In a sentence or two explain why the solutions to (2) and (4) are different (i.e., the point where maximum revenue is achieved is different from the point where maximum profit is achieved)

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Equations and Inequations

Equations and inequalities describe the relationship between two mathematical expressions.

Linear Functions

A linear function can just be a constant, or it can be the constant multiplied with the variable like x or y. If the variables are of the form, x2, x1/2 or y2 it is not linear. The exponent over the variables should always be 1.