Based on the best available econometric estimates, the market elasticity of demand for your firm’s product...

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Based on the best available econometric estimates, the market elasticity of demand for your firm’s product...

Based on the best available econometric estimates, the market elasticity of demand for your firm’s product is -3. The marginal cost of producing the product is constant at $225, while average total cost at current production levels is $315.

Determine your optimal per unit price if: Instruction:

Enter your responses rounded to two decimal places.

a. You are a monopolist.

b. You compete against one other firm in a Cournot oligopoly.

c. You compete against 19 other firms in a Cournot oligopoly.

business economics

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Based on the best available econometric estimates, the market elasticity of demand for your firm’s product...

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