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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Macroeconomics: Determine the coefficient of price elasticity of demand

Reference No:- TGS0870665

Recent Questions Asked Macroeconomics

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