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 5 identical firms?
A) EF = (df(p) / dP) x (5P / Q) .
B) EF = (df(p) / dP) x (5Q / P) .
C) EM = 5EF.
D) EF = (1/5) EM.
Correct Answer:
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