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April 25, 2015

Homework Help: managerial

Posted by tina on Sunday, August 8, 2010 at 11:25pm.

The demand curve for haircuts at Terry Bernard's Hair Design is P=20-0.20Q where Q is the number of cuts per week and P is the price of a haircut. Terry is condering raising her price above the current price of $15. Terry is unwilling to raise price if the price hike will cause revenues to fall. Should Terry raise the price of haircuts above $15 Why or why not? Suppose demand for Terry's haircuts increases to P=40-0.40Q. At a price of $15, should Terry raise the price of her haircuts? why or why not?"

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