An end-of-aisle price promotion changes the price elasticity of a good from 4 to 5. Suppose the normal price is $48, which equates marginal revenue with marginal cost at the initial elasticity of -4.

What should the promotional price be when the elasticity changes to -5? (Hint: In other words, what price will equate marginal revenue and marginal cost?)

$58.50

$63.00

$40.50

$45.00