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.
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A 2016 survey of undergraduate students considered this further and found that compared with students that did not use cannabis at least once
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