Solved: What is the arc price elasticity for the product, Microeconomics

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What is the arc price elasticity for the product

Question: BWC sells chrome wheels for automobiles. At a price of $600 per set, they sold about 900 sets per month. The new general manager for this product decided that they needed more revenues and increased price to $800. However BWC is now selling 200 chrome wheel sets per month at the new price. What is the arc price elasticity for this product?

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Microeconomics: What is the arc price elasticity for the product

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