Demand Curves. KRMY-TV is contemplating a T-shirt advertising promotion. Monthly sales data from T-shirt shops marketing the "Eye Watch KRMY-TV" design indicate that
Q = 1,500 - 200P
where Q is T-shirt sales and P is price.
A. How many T-shirts could KRMY-TV sell at $4.50 each?
B. What price would KRMY-TV have to charge to sell 900 T-shirts?
C. At what price would T-shirt sales equal zero?
D. How many T-shirts could be given away?
E. Calculate the point price elasticity of demand at a price of $5.