Based on the best available econometric estimates, the market elasticity of demand for your firms product is -2. The marginal cost of producing the product is constant at $150, while average total cost at current production levels is $225.
Determine your optimal per unit price if:
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.