What is the lerner index in industry

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Reference no: EM131613616

An industry is known to face market price elasticity of demand -0.5. Suppose that this elasticity is approximately constant as the industry moves along its demand curve. The marginal cost in this industry is $50 per unit, and there are four firms in the industry.

  • What is the Lerner index in this industry?
  • What is the Oligopoly price?

Reference no: EM131613616

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