# Optimizing Rent and Revenue: Real Estate and Wholesale Pricing Strategies

• nyr
In summary, business applications are software programs used by companies to manage and improve various aspects of their operations. They provide benefits such as increased efficiency, improved data accuracy, better decision-making, enhanced collaboration, and cost savings. There are different types of business applications available, including ERP, CRM, SCM, HRM, project management, and BI software. The implementation process involves identifying needs and goals, selecting the appropriate software, customizing it, and training employees. When choosing a business application, important considerations include features, compatibility, scalability, user-friendliness, customer support, and cost. It is also crucial to ensure that the application aligns with the company's needs and goals.
nyr
Okay so I need help with 2 problems. One I did a bunch of work for but I am not sure if my answers right, and the second I'm not sure how to start it.
The first problem:

A real estate office handles 50 apartment units. When the rent is $720 per month, all units are occupied. However, on average, for each$40 increase in rent, one unit becomes vacant. Each occupied unit requires an average of $48 per month for services and repairs. what rent should be charged to obtain the maximum profit. My work: I set up an equation R= (50-x)(720+40x)-48(50-x) R'=1328-80x critical number at x=16.6 50-16.6=33.4 R(16.6)/33.4=1336$1336 should be charged to obtain the maximum profit.

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The second problem:
When a wholesaler sold a certain product at $25 per unit, sales were 800 units per week. After a price increase of$5, the average number of units sold dropped to 775 per week. Assume that the demand function is linear and find the price that will maximize the total revenue.

I have no idea how to set up this problem

. Any help would be appreciated.The equation you need to set up is a linear equation of the form y=mx+b, where y is the number of units sold per week, m is the slope or rate of change, and b is the y-intercept. To find the price that will maximize total revenue, you need to find the point where the slope of the line becomes zero. To do this, you can use the formula m=-(Δy/Δx), where Δy is the change in y and Δx is the change in x. Plugging in the given information, you get m=-(800-775)/(25-5)=-25/20=-1.25. Now you can solve for b using one of the given points (e.g. (25, 800)). You get b=825. Your equation becomes y=-1.25x+825. To find the point where the slope becomes zero, you need to solve the equation 0=-1.25x+825, which yields x=660. This means that the price that will maximize total revenue is \$660.

## 1. What are business applications?

Business applications refer to software programs or tools that are used by companies or organizations to manage and improve various aspects of their operations, such as accounting, marketing, customer relationship management, and project management.

## 2. What are the benefits of using business applications?

The use of business applications can bring numerous benefits to a company, including increased efficiency, improved data accuracy, better decision-making, enhanced collaboration, and cost savings.

## 3. What types of business applications are available?

There are various types of business applications available, including enterprise resource planning (ERP), customer relationship management (CRM), supply chain management (SCM), human resource management (HRM), project management, and business intelligence (BI) software.

## 4. How can business applications be implemented in a company?

The implementation process of business applications typically involves identifying the specific needs and goals of the company, selecting the appropriate software, customizing it to fit the organization's requirements, and training employees on how to use it effectively.

## 5. What are some key considerations when choosing a business application?

When choosing a business application, it is important to consider factors such as the features and functionalities offered, compatibility with existing systems, scalability, user-friendliness, customer support, and cost. It is also crucial to assess the needs and goals of the company and ensure that the chosen application aligns with them.

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