1. 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:

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.