Calculate price elasticity of demand-interpret your result

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Assume that a dress shirt is priced at $120.00 At that price six stores in a district sold 650 shirts in a week. Then all six stores declared a sale: buy one get one free. This advertisement increased the sale to 3050 shirt in the following week. Calculate the price elasticity of demand and interpret your result. Show all calculation and carry your work to 2 decimal points.

Reference no: EM131169332

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