Econ Question - Inferior Goods

  • #1
chickenlips
3
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!
 

Answers and Replies

  • #2
chickenlips
3
0
moving this request to the homework section
 
  • #3
gravenewworld
1,127
25
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.
 

Suggested for: Econ Question - Inferior Goods

  • Last Post
Replies
2
Views
501
  • Last Post
2
Replies
41
Views
996
Replies
4
Views
632
  • Last Post
Replies
12
Views
467
  • Last Post
Replies
3
Views
417
Replies
13
Views
426
  • Last Post
Replies
23
Views
598
  • Last Post
Replies
3
Views
323
Replies
1
Views
272
Top