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The current price of canvas messenger bags is $36 each and sales of the bags equal 400 per week.If the price elasticity of demand is -2.5 and the price changes to $44, how many messenger bags will be sold per week? Use the midpoint formula.
Start-Up Process Model
A framework outlining the stages and steps involved in launching a new business, from the initial idea to market entry.
Small Business Manager
An individual responsible for overseeing the operations and ensuring the success of a small business.
Entrepreneur
An individual who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk.
Entrepreneurs
Entrepreneurs are individuals who start and manage their own businesses, taking on financial risks with the aim of making profits, driving innovation, and implementing new ideas in the marketplace.
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