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You operate a museum. Your price elasticity of demand for in-state visitors is 4, and you maximize profits by charging them $ per 4/visit. If

You operate a museum. Your price elasticity of demand for in-state visitors is –4, and you maximize profits by charging them $ per 4/visit. If the price elasticity of demand for out-of-state visitors is –2, to maximize profits you should charge them 

A. $4. 

B. $8. 

C. $2. 

D. $6.

I know the answer is $6 but can someone explain to me step by step the formula used.

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