Based on the best available econometric estimates

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Based on the best available econometric estimates, the market elasticity of demand for your firm’s product is -1.5. The marginal cost of producing the product is constant at $75, while average total cost at current production levels is $200. Determine your optimal per unit price if: Instruction: Round your answers 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.

Reference no: EM131377416

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