What would occur to the total revenue coming from this product is you increase price to $11 per unit?
1
Expert's answer
2018-09-14T09:57:09-0400
The Revenue (R) is equal to the price (P) multiplied by the quantity of goods or services (Q). R = P*Q. The previous Revenue: R1 = P1*Q1. The Revenue after increasing of price: R2 = P2*Q2. We know: P2 = P1 + 11, Q2= *Q1 So, R2 = (P1 + 11)*Q1 As we see, the revenue would increase by R2 - R1 = (P1 + 11)*Q1 - P1*Q1 = 11Q1 Answer The total revenue would increase by 11Q1, where Q1 is the number of units.
Finding a professional expert in "partial differential equations" in the advanced level is difficult.
You can find this expert in "Assignmentexpert.com" with confidence.
Exceptional experts! I appreciate your help. God bless you!
Comments
Dear Cho, You're welcome. We are glad to be helpful. If you liked our service please press like-button beside answer field. Thank you!
Thank you. Appreciate the answer
Leave a comment