Econ Question - Inferior Goods

  • #1
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
moving this request to the homework section
 
  • #3
1,104
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.
 

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