Business, 17.03.2020 06:41, PLSsHELPMEH

George has been selling 8,000 T-shirts per month for $9.00. When he increased the price to $11.00, he sold only 5,000 T-shirts. Which of the following best approximates the price elasticity of demand? -2.3077 -3 -2.0769 -2.5385 Suppose George's marginal cost is $3 per shirt. Before the price change, George's initial price markup over marginal cost was approximately . George's desired markup is . Since George's initial markup, or actual margin, was than his desired margin, raising the price was . Grade It Now Save & Continue Continue without saving

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George has been selling 8,000 T-shirts per month for $9.00. When he increased the price to $11.00, h...