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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 is $4 per shirt, what is his desired markup and what is his initial actual markup? Was raising the price profitable?
factors affecting national income
WHY IS INTERNATIONAL TRADE IMPORTANT IN SOUTH AFRICA
#“Nominal GDP declined between 2008 and 2009, therefore the GDP deflator must also have declined.”
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