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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 p and the demand x is linear. why don't you draw it out, put the price on x axis and number of apt. unit on y axis. |
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