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Determining the relevant market

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Reference no: EM131432023

A firm has $2,100,000 in sales, a Lerner index of 0.6, and a marginal cost of $45, and competes against 800 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?

___________

Reference no: EM131432023

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