ECON 002 - You sell widgets, driven by an inverse demand
Question # 00653450
Posted By:
Updated on: 02/21/2018 08:29 AM Due on: 02/21/2018
You sell widgets, driven by an inverse demand (pricing) equation P = 400 - 0.25Q, where P is
the price of an 100 unit box. The initial price of a box is $100. Should you raise the price of
your widgets? What will be the effect on total revenue?
-
Rating:
/5
Solution: ECON 002 - You sell widgets, driven by an inverse demand