Straight to the point, easy to follow, love it! I would hazard a guess that revenue went down because q went down in the demand function when you substituted 80 for the price…
Due to raisse in price .. the demand gets reduced.. but in some other aspects like in a snob effect ..let's make an example if this firm is an Jacob and co watch shop..whatever the price is increased ..we will be generating high prices .. this is in case of luxury goods
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This video was very helpful! Thanks a bunch!!!
Straight to the point, easy to follow, love it! I would hazard a guess that revenue went down because q went down in the demand function when you substituted 80 for the price…
The higher price makes people buy less. That's why units sold are lower and revenue falls because of this
Always wanted to know how to calculate this
Due to raisse in price .. the demand gets reduced.. but in some other aspects like in a snob effect ..let's make an example if this firm is an Jacob and co watch shop..whatever the price is increased ..we will be generating high prices .. this is in case of luxury goods