Operating in monopolistically competitive market face demand

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OneOfFew Inc. is operating in a monopolistically competitive market faces demand and marginal revenue curves as given below: P = 10 - 0.1Q MR = 10 - 0.2Q The firm's total and marginal cost curves are: TC = - 10Q + 0.0333Q3 + 130 MC = -10 + 0.0999Q2, where P is in dollars per unit, output rate Q is in units per time period, and total cost C is in dollars. If P= $8.68 and OneOfFew produces Q=13.17, what is the Lerner index of monopoly power for OneOfFew Inc?

Reference no: EM131204147

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