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ECO - A firm has $2,000,000 in sales, a Lerner index

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Question;A firm has $2,000,000 in sales, a Lerner index of 0.56, and a marginal cost of $35, and competes against 900 other firms in its relevant market.Instruction: Round your answers to 2 decimal places.a. What price does this firm charge its customers?b. By what factor does this firm mark up its price over marginal cost?

 

Paper#57714 | Written in 18-Jul-2015

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