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ABC Sports, a store that sells various types of sports clothing and other sports items, is planning to introduce a new design of Arizona Diamondbacks
ABC Sports, a store that sells various types of sports clothing and other sports items, is planning to introduce a new design of Arizona Diamondbacks baseball caps. A consultant has estimated the demand curve to be Q = 2000 -100P, where Q is cap sales and P is price. How many caps could ABC sell at $6.00 each? How much would the price have to be to sell 1,800 caps? Suppose ABC were to use the caps as a promotion. How many caps could ABC give away free? At what price would no caps be sold? Calculate the point elasticity of demand at a price of $6
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