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Question: donalds price elasticity for putins portraits is 4 and his...

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Donald's price elasticity for Putin's portraits is -4 and his income elasticity for them is 1. Last year, Donald purchased 60 portraits at a price of 2,400. Putin hacked Donald's tax returns and found out that his income this year decreased to $15 million from last year's $20 million. What price should Putin charge for his portraits so that Donald buys the same quantity (60 portraits) from him this year?

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