Business, 09.09.2020 21:01 alissa3329

George has been selling 8,000 T-shirts per month for $7.00. When he increased the price to $9.00, he sold only 5,000 T-shirts. Which of the following best approximates the price elasticity of demand?
A- 1.6615
B- 2.2154
C- 2.0308
D- 1.8462

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George has been selling 8,000 T-shirts per month for $7.00. When he increased the price to $9.00, he...