Determine the coefficient of price elasticity of demand, Macroeconomics

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Determine the coefficient of price elasticity of demand

George has been selling 5,000 T-shirts per month for $8.50. When he increased the price to $9.50 he sold only 4,000 T-shirts. Determine the demand elasticity? If his marginal cost is $4 per shirt, determine his desired markup and what is his initial actual markup? Was raising the price profitable?

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Macroeconomics: Determine the coefficient of price elasticity of demand

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Macroeconomics: Determine the coefficient of price elasticity of demand

Reference No:- TGS0870665

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Recent Questions Asked Macroeconomics

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Request for Solution File

Ask an Expert for Answer!!

Macroeconomics: Determine the coefficient of price elasticity of demand

Reference No:- TGS0870665

Recent Questions Asked Macroeconomics

Q : Explain what should be the loads assigned to processes

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Q : Proportion of online content

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Q : Determine the coefficient of price elasticity of demand

Q : Write down the difference as m - r and state the upper limit

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