4. College logo T-shirts priced at $15 sell at a rate of 25 per week, but when the bookstore marks them down to $10, it finds that it can sell 50 T-shirts per week. a. What is the price elasticity of demand for the logo t-shirts? b. Indicate if the price elasticity of demand for the logo T-shirt is perfectly elastic, relatively elastic, relatively inelastic, or perfectly inelastic
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