Consider a cournot oligopoly consisting of four identical


Consider a Cournot oligopoly consisting of four identical firms producing good X. If the firms produce good X at a marginal cost of $7 per unit and the market elasticity of demand is −2, determine the profit-maximizing price.

a. $6 per unit

b. $8 per unit

c. $10 per unit

d. $12 per unit

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Business Economics: Consider a cournot oligopoly consisting of four identical
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