Arc price elasticity for the product
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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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Solution Summary
The arc price elasticity is determined.
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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. ...
Education
- BEng (Hons) , Birla Institute of Technology and Science, India
- MSc (Hons) , Birla Institute of Technology and Science, India
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