I am having difficulties with figuring out the formulas for thisthis question. Is there a walk-through for this?
You are the manager of a monopoly that sells a product to twogroups of consumers in different parts of the country. Group 1’selasticity of demand is -2, while group 2’s is -3. Your marginalcost of producing the product is $30.
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 Cournotoligopoly.
