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3. The Whippy Dip in Erie has reduced the price of its popular M&M Sundae from $2.25 to $1.75. As a result, the Dip's daily

3. The Whippy Dip in Erie has reduced the price of its popular M&M Sundae from $2.25 to $1.75. As a result, the Dip's daily sales of these sundaes have increased from 1,500 per day to 1,800 per day. Compute the arc price elasticity of demand over this price and consumption quantity range.

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