Question

A real estate office manages an apartment complex with 40 units. When the rent is $780 per month, all 40 units are occupied. However, when the rent is $852, the average number of occupied units drops to 36. Assume that the relationship between the monthly rent p and the demand x is linear. (Note: the term demand refers to the number of occupied units.)

(a) Write a linear equation giving the demand x in terms of the rent p.

Answer 1

The linear equation giving the demand x in terms of the rent p can be written as x = 40 - 0.042p, where x is the number of occupied units and p is the monthly rent.