QUESTION 1 Suppose that the price for firm A's main product is $51. The marginal cost of producing the product is $4. Ca

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Question 1 Suppose That The Price For Firm A S Main Product Is 51 The Marginal Cost Of Producing The Product Is 4 Ca 1 (29.04 KiB) Viewed 37 times

QUESTION 1 Suppose that the price for firm A's main product is $51. The marginal cost of producing the product is $4. Calculate the markup on price (or Lerner's Index) for this product. Note: Enter number as a decimal between-1 and 1 to at least four significant figures QUESTION 2 Consider the following industry with four firms Firm A has sales of $60904 Firm B has sales of $95983 Firm C has sales of $96950 Firm D has sales of $31898 Calculate Herfindahl's index for this industry Note: Enter answer as a decimal between 0 and 1 (NOT between 0 and 10,000) to at least FOUR significant figures