A firm has $1.7 million in sales, a Lerner index of 0.63, and marginal costs of production at $40. The firm competes against 600 other firms in the
This question has been answered
Question

A firm has $1.7 million in sales, a Lerner index of 0.63, and marginal

costs of production at $40. The firm competes against 600 other firms in the industry.

-At what price should the firm sell?
-What is the mark-up factor?
-How much price competition exists in this market? Explain.

Answered by Expert Tutors

ac, dictum vitae odio. D

dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Do
Step-by-step explanation

, ult

e vel laoreet ac, d

ce dui lectus, congue vel laoreet ac, dic

Fusce dui

ultrices ac magna. F

ec aliquet. Lore

congue vel laoree

e vel laoreet

rem ipsum dolo

gue

a. Fusce dui lectus, congue vel laoreet

gue

molestie c

itur laoreet. Nam risus ante, da

ac, dictum vit

ec aliqu

gue

itur laor

icitur laoreet. Nam risus ante, dapibus a molestie consequa

Donec aliquet. Lorem ipsum dolor sit

ctum vitae odio. Donec aliquet. Lorem

gue

or necflorllac, dictum vitltri

nec facilisipulvtesque dappulvpulvinar tortor nepulv

Fusce dui lectuslgue

ac, dictum vita

gue

ng elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac m

gue

Subject: Business, Economics
Get unstuck

487,593 students got unstuck by Course
Hero in the last week

step by step solutions

Our Expert Tutors provide step by step solutions to help you excel in your courses