By what factor firm marks up its price over marginal cost, Microeconomics

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By what factor firm marks up its price over marginal cost

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? SHOW all work
b. By what factor does this firm mark up its price over marginal cost? SHOW all work
c. Do you think this firm enjoys much market power? Explain

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Microeconomics: By what factor firm marks up its price over marginal cost

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Microeconomics: By what factor firm marks up its price over marginal cost

Reference No:- TGS038720

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

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Request for Solution File

Ask an Expert for Answer!!

Microeconomics: By what factor firm marks up its price over marginal cost

Reference No:- TGS038720

Recent Questions Asked Microeconomics

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