The Price Elasticity Of Demand For Melocotones Is Constant And Equal To 3 The Meloco 1744853
The price elasticity of demand for melocotones is constant and equal to -3. The meloco-tone market is controlled by two Cournot duopolists who have dierent cost functions. One of theduopolists has a constant marginal cost of $720 per ton and he produces 60% of the total numberof melocotones sold. The equilibrium price of a ton of melocotones must be:(a) 900.(b) 450.(c) 720.(d) 1800.(e)1350
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