For n 2, 5, 10, 50, and 1,000, add columns to Table 6.2 for a. Market
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For n 2, 5, 10, 50, and 1,000, add columns to Table 6.2 for
a. Market elasticity, , which equals (dQ/dp)(p/Q).
b. Lerner’s measure of market power, (p MC)/p.
c. Consumer surplus.
d. Social welfare consumer surplus industry profits.
e. Deadweight loss (the amount by which social welfare is less than the optimum).
Confirm that Lerner’s measure of market power,
(p MC )/p, equals 1/(n).
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Related Book For 
Modern Industrial Organization
ISBN: 9781013368837
4th Edition
Authors: Dennis W. Carlton, Jeffrey M. Perloff
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