Based on the best available econometric estimates, the market elasticity of demand for your firm's product is -1.5. The marginal cost of producing the product is constant at $275, while average total cost at current production levels is $350.

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 firm in a Cournot oligopoly.

$

c. You compete against 19 other firms in a Cournot oligopoly.

$