Question: You are trying to determine the profit-maximizing price for a video-game console. Currently, you charge $180 and sell 2 million consoles per year. It costs

You are trying to determine the profit-maximizing price for a video-game console. Currently, you charge $180 and sell 2 million consoles per year. It costs $150 to produce a console, and the price elasticity of demand for consoles is 3. What price should you charge for a console?

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