George has been selling 5,000 t-shirts per month for 8.50. When he increased the price to 9.50 he sold only...
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. What is the demand elasticity? If his marginal cost if $4 per shirt, was raising the price profitable? Please explain
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