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Based on the best available econometric estimates, the market elasticity of demand for your ?rm's product is -1.5. The marginal cost of producing the product is constant at $150, while average total cost at current production levels is $215.
Problem 1: 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 ?rm in a Cournot oligopoly.
c. You compete against 19 other firms in a Cournot oligopoly
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