8 - Based on the best available econometric estimates, the market elasticity of demand for your firm's product is -2. The marginal cost of producing the product is constant at $175, while average total cost at current production levels is $235.

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.

$_____________