Based on the best available econometric estimates, the market elasticity of demand for your rims product is -2. The marginal cost of producing the product is constant at $150, while average cost at current production levels of $225 determine your optimal per unit price if:
a. You are a nonprofit
b. You compete against one other firm in a current oligopoly
c. You compete against 19 other firms in a cournot oligopoly
2.? You are the manager of a monopoly that sells a product to two groups of consumer in different parts of the country. Group 1's elasticity of demand is -3, while group 2's is -5. your marginal cost of producing the product is $140
a. Determine your optimal markups and prices under third-degree price discrimination
b.Identify the conditions under which third-degree price discrimination enhance profits
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