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The Current Price of Concert T-Shirts Is $20 Each, and the Company

Question 236

Essay

The current price of concert t-shirts is $20 each, and the company has been selling 400 per week.If price elasticity is 2.5 and the price changes to $21, how many t-shirts will be sold per week?

Correct Answer:

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The percentage change in price is 1/20.5...

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