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Important information about own price elasticity of demand
A bike shop that goes by the name of Crash and Burn is contemplating a backpack advertising promotion. Monthly sales data from backpack shops marketing the "Crash and Burn" design indicate that the demand curve for the T-shirts can be described as:
Q = 4,000 - 500P (where Q is backpack sales and P is price).
a.How many T-shirts could the cafe sell at $5 each?
b.What price would Crash and Burn have to charge to sell 2,000 T shirts?
c.Calculate the own price elasticity of demand when the price goes from $5 to $4.
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15 page term paper on International Business from economic view point. The topic is effect of corruption on Chinese and Indian economy and how India's IT sector (or could be any other sector in which compared to China the corruption is less) is ab..
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