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A firm has $1.6 million in sales, a Learner index of 0.55, and a marginal cost of $45, and competes against 1000 other firms in

A firm has $1.6 million in sales, a Learner index of 0.55, and a marginal cost of $45, and competes against 1000 other firms in its 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?

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

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