Question
A firm has $1,800,000 in sales, a Lerner index of 0.69, and a marginal cost of $35, and competes against 1000 other firms in its
A firm has $1,800,000 in sales, a Lerner index of 0.69, and a marginal cost of $35, 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?
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Financial Accounting Making The Connection
Authors: J David Spiceland, Wayne Thomas, Don Herrmann
1st Edition
0077862260, 9780077862268
