Use the table below to answer the following questions.
Table 3.5.3
Demand and supply schedules for designer sport t-shirts at CoolU
-Refer to Table 3.5.3.In a television interview,Joe Cool shows off his designer sport t-shirt,setting off a new craze that doubles business at the sportswear establishments.The quantity of t-shirts demanded doubles at each price.The new equilibrium price is $________ and the new equilibrium quantity is ________ t-shirts per month.
Definitions:
Philanthropic
Pertaining to the act of donating money, goods, services, or time to the needy, directly or through a charitable foundation.
Legal Obligation
A requirement enforced by law that mandates individuals or entities to act or refrain from certain actions.
Social Responsibility
The obligation of organizations to act in ways that benefit society and the environment beyond their immediate business interests.
Strategic Planning
The process of defining a business's strategy or direction and making decisions on allocating resources to pursue this strategy.
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