(Answered) Problem 3 the olde yogurt factory has reduced the price of

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Problem 3. The Olde Yogurt Factory has reduced the price of its popular Mmmm Sundaefrom $2.25 to $1.75. As a result, the firm's daily sales of these sundaes have increased from 1,500/day to 1,800/day. Compute the arc price elasticity of demand over this price and consumption quantity range.

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