Suppose that a firm is currently charging $45 for its product. The firm knows that its marginal cost of producing the product is $25, and it believes that the elasticity of demand for the product (at least at its current price) equals 3. Given this belief, does it appear that setting its price at $45 is a profit-maximizing decision? If not, and if the firm's goal is indeed to maximize its current profit, should the firm raise or lower its price?