4. A firm has $1.5 million in sales, a Lerner index of 0.57, and a marginal cost of $50, and competes against 800 other firms in its relevant market
4. A firm has $1.5 million in sales, a Lerner index of 0.57, and a marginal cost of $50, and competes against 800 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.
We are always aiming to provide top quality academic writing services that will surely enable you achieve your desired academic grades. Our support is round the clock!
[order_calculator]