Solution-What price does thisfirm charge its customers

What price does thisfirm charge its customers

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Reference no: EM131405579

A firm has $3.5 millionin sales, a Lerner index of 0.67, and a marginal cost of $50, and competesagainst 800 other firms in its relevant market.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

a. What price does thisfirm charge its customers? SHOW all work

b. By what factor does this firm mark up its price over marginalcost? SHOW all work

c. Do you think this firm enjoys much market power? Explain

Reference no: EM131405579

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What price does thisfirm charge its customers

Reference no: EM131405579

Reference no: EM131405579

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