Competes against 3000 other firms in the relevant market. a, Ask an Expert

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A firm has $5 million in sales, a Lerner Index of 0.75, and a marginal cost of $45, and competes against 3,000 other firms in the 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?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M938461

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