2.) The pecice of shirt button decreases from 4 rs / dozen to 3 rs /dozen but the demand changes from 100 dozen to 105 dozen / day. Calculate the elasticity of demand of buttons.
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Button Quantities - Buttons are for the most part priced and sold by the gross. One gross equals 144 individual buttons. Although some high fashion buttons are priced by the piece or by the dozen, the standard unit we use at Emsig is gross. Buttons are generally packaged in box lots, then packed in cartons. We generally require a customer to order a full box lot (6,12,20 or 24 Gross, the size determines the box and carton packing)
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