By what factor does this firm mark up its price over, Ask an Expert

Economics

A firm has $1 million in sales, a Lerner index of 0.65, and a marginal cost of $35, and competes against 1,000 other firms in its relevant market. a. What price does this firm charge its customers? b. By what factor does this firm mark up its price over marginal cost? c. Do you think this firm enjoys much market power? Explain.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9441356

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