Explain firm competes against other firms in relevant market


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. Do you think this firm enjoys much market power? Explain.

Request for Solution File

Ask an Expert for Answer!!
Microeconomics: Explain firm competes against other firms in relevant market
Reference No:- TGS057782

Expected delivery within 24 Hours