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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 baseball caps A consultant has estimated the

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 = 2,000 - 100P where Q is cap sales and P is price. a. How many caps could ABC sell at $6 each? b. How much would the price have to be to sell 1,800 caps? c. Suppose ABC were to use the caps as a promotion. How many caps could ABC give away free? d. At what price would no caps be sold? e. Calculate the point price elasticity of demand at a price of $6.

May 04 2020 View more View Less

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