A firm has 5 million in sales a lerner index of 075 and a, Business Economics

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A firm has 5 million in sales a lerner index of 075 and a

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.

1. What price does this firm charge its customers?

2. By what factor does this firm mark up its price over marginal cost?

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Business Economics: A firm has 5 million in sales a lerner index of 075 and a

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