What is the price elasticity of demand for the logo t-shirt

Reference no: EM131301160

1. Search YouTube for the video titled Black Friday 2006-Best Buy Line. Do the early shoppers appear to have elastic or inelastic demand on Black Friday? Explain your response.

2. College logo T-shirts priced at $15 sell at a rate of 25 per week, but when the bookstore marks them down by 33%, it finds that it can sell twice as many T-shirts per week. What is the price elasticity of demand for the logo T-shirts?

Reference no: EM131301160

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