Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 08, 2024

A firm has $1,600,000 in sales, a Lerner index of 0.55, and a marginal cost of $45, and competes against 1000 other firms in its

A firm has $1,600,000 in sales, a Lerner index of 0.55, and a marginal cost of $45, and competes against 1000 other firms in its relevant market.

Instruction: Enter your responses rounded to two decimal places.

a. What price does this firm charge its customers?

$ ?

b. By what factor does this firm mark up its price over marginal cost?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Econometric Evaluation Of Socio-Economic Programs Theory And Applications

Authors: Giovanni Cerulli

1st Edition

3662464055, 9783662464052

More Books

Students also viewed these Economics questions

Question

★★★★★

Who was the champion for change and the green initiative? How were they successful in getting buy-in and support from residents, business owners, and government officials?

Answered: 1 week ago

Question

★★★★★

Telesoft Corp. traded at a price-to-book ratio of 0.98 in May 1999 after reporting an ROCE of 52.2 percent. Does the market regard this ROCE as normal, unusually high, or unusually low?

Answered: 1 week ago

Question

★★★★★

The sizes of claims (in thousands of dollars) arriving at an insurance company can be modeled by a random variable X having density function is also a density function. 4x f(x) = x > 0. (x+2)

Answered: 1 week ago

Question

★★★★★

Computing materials, labor, and manufacturing overhead cost variances Frank Trawick was a new cost accountant at Skoney Plastics Corporation. He was assigned to analyze the following data that his...

Answered: 1 week ago

Question

★★★★★

u Ullions Ask user enter two numbers between - 1000 and 1000. Then ask user enter an operation, which is a't'or calculation and print the result. Two example runs are given below: Then calculate...

Answered: 1 week ago

Question

★★★★★

In the Assembly Department of Hannon Company, budgeted and actual manufacturing overhead costs for the month of April 2020 were as follows. Budget Actual Indirect materials $15,000 $14,100 Indirect...

Answered: 1 week ago

Question

★★★★★

11.7 A copper bar with a cross-sectional area of 1.5 in. is loaded as shown. What is the total change in length of the bar? Ec = 16 x 100 psi. Def=0.044 in 4 ft 10.000 lb 4000 lb - 8 ft PROB. 11.7

Answered: 1 week ago

Question

★★★★★

Divergent LTD is an investment company which owns a number of subsidiary companies. Each subsidiary produces a particular product or service. The subsidiary companies are grouped into three divisions...

Answered: 1 week ago

Question

★★★★★

A cylindrical casting of diameter 200 mm and height 100 mm is to be casted. From the previous observations it was found that to cast a shaft of 150 mm diameter and 500 mm length, the casting time is...

Answered: 1 week ago

Question

★★★★★

Illustrate a strategic timeline to obtain/maintain market penetration in 1 year. Illustrate a strategic timeline to increase production capacity in 3 years Illustrate a strategic timeline to market...

Answered: 1 week ago

Question

★★★★★

1 General triangles 1 General triangles 2 You are stuck in place P and there is a landmark (L) in your sight that is at an angle of 42 to a reference line as in the picture. You know that there is a...

Answered: 1 week ago

Question

★★★★★

=+3. What advantages and/or disadvantages are there for corporations that work closely with NGOs or nonprofit organizations? Can you think of any examples of successful partnerships?

Answered: 1 week ago

Question

★★★★★

=+4. What is the correct role of a media channel in a democratic society?

Answered: 1 week ago

Question

★★★★★

=+3. Is collateral damage or friendly fire an acceptable cost of war? Is it acceptable for innocent lives to be sacrificed in the name of national security?

Answered: 1 week ago

Previous Question Next Question