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AJ Corp sells speakers and has observed a recent drop in sales from 800 units a month to 650 units, reducing its revenue by 18,000

AJ Corp sells speakers and has observed a recent drop in sales from 800 units a month to 650 units, reducing its revenue by 18,000 (with no change in its price). Assuming its price elasticity to be -1.6, calculate the necessary price that AJ must charge to restore its sales volume to its previous level.

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