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.

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06-10-2022
Business

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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.

Sagot :

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