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 -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:

1) You are a monopolist.

2) You compete against one other firm in a Cournot oligopoly.

3) You compete against 19 other firms in a Cournot oligopoly.

Reference no: EM13896767

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