4. A firm has $2 million in sales, a Lerner index of 0.63, and a marginal cost of $75, and competes against 600 other fi

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4. A firm has $2 million in sales, a Lerner index of 0.63, and a marginal cost of $75, and competes against 600 other fi

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4 A Firm Has 2 Million In Sales A Lerner Index Of 0 63 And A Marginal Cost Of 75 And Competes Against 600 Other Fi 1
4 A Firm Has 2 Million In Sales A Lerner Index Of 0 63 And A Marginal Cost Of 75 And Competes Against 600 Other Fi 1 (192.58 KiB) Viewed 33 times
4. A firm has $2 million in sales, a Lerner index of 0.63, and a marginal cost of $75, and competes against 600 other firms in its relevant market. a. What price does this firm charge its customers? b. By what factor does this firm mark up its price over marginal cost? c. Do you think this firm enjoys much market power? Explain.
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