What factor does this firm mark up price over marginal costs

Assignment Help Business Economics

Reference no: EM13886669

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?

Please show your work.

Reference no: EM13886669

Questions Cloud

If an allocation of economic resources is not efficient : If an allocation of economic resources is not efficient, then some of the potential gains from trade among buyers and sellers are not being realized. Explain why an allocation is inefficient if a good is not being produced by the sellers with the low..

What is magnetic field strength halfway between two wires : Two parallel wires are positioned at d = 37.5 cm apart. Initially a current I 1 = 5.19 A flows up the screen through wire 1, and wire 2 has no current in it. What is the magnetic field strength halfway between the two wires?

Imposes binding price ceiling on competitive market : When the government imposes a binding price ceiling on a competitive market, a shortage of the good arises, and sellers must ration the scarce goods among the large number of potential buyers.

Identify the key audit deficiencies related to accounts : Identify the key audit deficiencies related to accounts, disclosures, and assertions in the revenue cycle. For each identified deficiency, indicate the appropriate action that should have been taken by the auditor.

What factor does this firm mark up price over marginal costs : 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. What price does this firm charge its customers? what factor does this firm mark up its price over marginal..

Describe the sampling strategy for your research proposal : Describe the sampling strategy for your research proposal. For each strategy that you did not choose, state why that one is not appropriate for your research questions, hypotheses, and variables

Stanton marketing has market indicators : Super Cola is also considering the introduction of a root beer drink. The company feels that the probability that the product will be a success is .6. The payoff table is as follows: Success (s1) Failure (s2) Produce (d1) $250,000 -$300,000 Do Not Pr..

How did miniscribe inflate its financial statements : How did MiniScribe inflate its financial statements? What are some of the factors that led to the inflated financial statements? What substantive audit procedures could have uncovered the fraud?

Occupies the space between two cylinders : SAE-30 oil at 80-C occupies the space between two cylinders, 2 and 2.2 cm in diameter. The outer cylinder is stationary and the inner cylinder rotates at 100 rpm. Is the oil in a laminar or turbulent state if Recrit ¼ 1700? Use Re ¼ or1d=n, where ..

User Account

All Pages