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Sonic boom Corporation sells drum sets. At a price of $600 per set, they sold about 500 sets per month. The new general manager for this product, Ella Sticity, decided that the company needed more revenues and increased the price to $700 per set. However, Sonic Boom is now selling only 200 drum sets per month at the new price. How should price elasticity be used for pricing this product?.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M963764

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