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2 years ago

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If the store currently charges a price of $50, then increases that price to $60, what happens to total revenue from shoe sales (

calculate P X Q before and after the price change)

1 answer:

Goryan [66]2 years ago

4 0

Answer:

<h2>Revenue will decrease</h2>

Step-by-step explanation:

Note: the question did not provide the quantity to work with, so we will assume some values, say quantity Q= 30

Generally, it is normal for the revenue to decrease when the price of a commodity increase, this is so that buyer will have to react to adjust to the change in price.

When price increase from $50 to $60, the total revenue will decrease

let say the quantity Q1=30 , and the new quantity after price increase is Q2=20

1. The revenue PxQ before price change will be

PxQ= P1xQ1=50*30

PxQ= $1500

1. The revenue PxQ after price change will be

PxQ=P2xQ2= 60*20

P2xQ2= $1200

This clearly shows that based on the assumed data, the total revenue will drop from1500 to 1200, a total of $300 in a decrease

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Step-by-step explanation:

The points are

$(1\frac{1}{2},1)$ , $(4,6)$ , $(18,12)$ , $(0,0)$ and $(2\frac{1}{2},3\frac{3}{4})$ ---- missing from the question

Given

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Required

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In this case;

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$y = 1\frac{1}{2}x$ becomes

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