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Your company, Shazam Enterprises, produces super hero T-shirts. Economists working in the industry have estimated the following points on the demand curve for your company's
Your company, Shazam Enterprises, produces super hero T-shirts. Economists working in the industry have estimated the following points on the demand curve for your company's product: Price Per Shirt Quantity Demanded $25 10,000 shirts $30 4,000 shirts a) The CEO wishes to know the price elasticity of demand along these two points on the demand curve and whether the demand for T-shirts is elastic or inelastic. b) The CEO is also interested in your opinion on pricing of T-shirts in order to increase company revenue. What would you suggest given your findings in part a)
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