chpt 4 question 3

Project Description:

abc sports, a store 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.
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