Multiple Choice
Which of the following is true regarding the relationship between the elasticity of demand for an individual firm and the elasticity of demand for the market in a Cournot oligopoly with five identical firms?
A) EF = (df(p) / dP) × (5P / Q)
B) EF = (df(p) / dP) × (5Q / P)
C) EM = 5EF
D) EF = (1/5) EM
Correct Answer:
Verified
Correct Answer:
Verified
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