Market elasticity of demand for your firms product

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Based on the best available econometric estimates, the market elasticity of demand for your firms product is -2. The marginal cost of producing the product is constant at $150, while average total cost at current production levels is $225. Determine your optimal per unit price if: A. You are monopolist B. You compete against on other firm in a Cournot oligopoly C. You compete against 19 other firms in a Cournot oligopoly.

Reference no: EM131245188

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