Does Increasing Prices Increase Revenue with Demand Q = 30 - 3P?

  • Thread starter Thread starter chickenlips
  • Start date Start date
Join the discussion
Ask a follow-up here, or get your own question answered by working scientists, mathematicians and engineers — people, not an autocomplete.
Real named experts · corrections over time · the nuance an AI answer skips
2 replies · 3K views
chickenlips
Messages
3
Reaction score
0
Hello~

I new here and I'd like a little help please.

Here is the question:
Suppose demand is given by Q = 30 – 3P. Does this indicate increasing prices increases revenue?

I'm not sure how to go about figuring this out...what should I look for?

Thank you in advance!
 
Physics news on Phys.org
moving this request to the homework section
 
chickenlips said:
Hello~

I new here and I'd like a little help please.

Here is the question:
Suppose demand is given by Q = 30 – 3P. Does this indicate increasing prices increases revenue?

I'm not sure how to go about figuring this out...what should I look for?

Thank you in advance!

Revenue is P*Q, so you take P*Q and you tell me if increasing the price will increase revenue.