Question 1(5 points):Suppose that you are currently charging a price of $30. You know that at your current price, income elasticity is equal to 1.5 and price elasticity equals -2. If you see a 25% decrease in income, calculate the price change required to maintain your current sales level. Note: you must fully derive all the steps of your calculations including that%ChangeQ=ep*%changeP+ eI*%changeI