Feeb has been selling 8,000 T-shirts per month for $9.00. When she increased the price to $11.00, she sold only 5,000 T-shirts. Which of the following best approximates the price elasticity of demand? -2.3077 -2.5385 -3 -2.0769 Suppose Feeb's marginal cost is $3 per shirt. Before the price change, Feeb's initial price markup over marginal cost was approximately -------- . Feeb's desired markup is---------------- . Since Feeb's initial markup, or actual margin, was ------------ than her desired margin, raising the price was ------------------ . choose option and fill the blanks