What happen to airlines total revenue if airfare increases, Microeconomics

What happen to airlines total revenue if airfare increases

Problem

Consider airfares on flights between Chicago and Denver. When the airfare is $250, the quantity demanded of tickets is 6,000 per week. When the airfare is $200, the quantity demanded of tickets is 7,000 per week.

• What will happen to the airlines' total revenue if airfare increases? How do you know?

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Microeconomics: What happen to airlines total revenue if airfare increases

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Microeconomics: What happen to airlines total revenue if airfare increases

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