Real World Applications – Algebra I
How much would people pay for Kanye West’s line of shoes?
In June of 2012, rapper Kanye West came out with a line of shoes through shoe boutique, Outside Burn Rubber. These limited edition shoes were initially selling for $245.
- Fans of Kanye West are willing to purchase these shoes 400% more than what they were selling for. How much are they willing to pay?
- Why do you think people would be willing to pay this amount for these shoes?
- If it costs Nike approximately $5 to make a pair of shoes, what is the percent change that these shoes are selling for?
- How does this explain Nike’s profit?