(Answered) A firm in the market for designer jeans has some degree of

Economics

A firm in the market for designer jeans has some degree of monopoly power. The demand curve it faces has a price elasticity of demand of -5?, while the price elasticity demand of the market is -4. ?Moreover, the firm has a constant marginal cost of ?$50

Given the information? above, use the Lerner Index of Monopoly Power to calculate the? firm's monopoly power.

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