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You are the manager of a gas station and your goal is to maximize profits. Based on your past experience, the elasticity of demand by
You are the manager of a gas station and your goal is to maximize profits. Based on your past experience, the elasticity of demand by Texans for a car wash is -2, while the elasticity of demand by non-Texans for a car wash is -4. If you charge Texans $18 for a car wash, how much should you charge a driver with Oklahoma license plates for a car wash?
Please show calculation. Thank you.
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