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[Steps Shown] Based on the best available econometric estimates, the market elasticity of demand for your firm's product is -1.50. The marginal cost of

Question: Based on the best available econometric estimates, the market elasticity of demand for your firm's product is \(-1.50\). 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:

  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.

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Solution: The downloadable solution consists of 2 pages
Deliverable: Word Document


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