What price does firm charge its customers, Microeconomics

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What price does firm charge its customers

A firm has $5 million in sales, a Lerner Index of 0.75, and a marginal cost of $45, and competes against 3,000 other firms in the relevant market. a) What price does this firm charge its customers? b) By what factor does this firm mark up its price over marginal cost?

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Request for Solution File

Ask an Expert for Answer!!

Microeconomics: What price does firm charge its customers

Reference No:- TGS038461

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

Q : Competitiveness and collaboration in global economy

Q : What price would team have to charge to fill the stadium

Q : Problem regarding osh act violation

Q : What is four-firm market concentration ratio for industry

Q : What price does firm charge its customers

Q : Prepare a balance sheet for the general fund

Q : Determining effective interest rate on loan

Q : Deferred gross profit concept

Q : Find level of profits-losses in firm for optimal decisions

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Request for Solution File

Ask an Expert for Answer!!

Microeconomics: What price does firm charge its customers

Reference No:- TGS038461

Recent Questions Asked Microeconomics

Q : Competitiveness and collaboration in global economy

Q : What price would team have to charge to fill the stadium

Q : Problem regarding osh act violation

Q : What is four-firm market concentration ratio for industry

Q : What price does firm charge its customers

Q : Prepare a balance sheet for the general fund

Q : Determining effective interest rate on loan

Q : Deferred gross profit concept

Q : Find level of profits-losses in firm for optimal decisions

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