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Determine optimal per unit price

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Reference no: EM132640623

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

Reference no: EM132640623

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