Problem 07-04 (algo) A firm has $1,700,000 in sales, a Lerner index of 0.56, and a marginal cost of $50, and competes against 800 other firms in its relevant market. Instruction: Enter your responses...

Problem 07-04 (algo)<br>A firm has $1,700,000 in sales, a Lerner index of 0.56, and a marginal cost of $50, and competes against 800 other firms in its relevant<br>market.<br>Instruction: Enter your responses rounded to two decimal places.<br>a. What price does this firm charge its customers?<br>b. By what factor does this firm mark up its price over marginal cost?<br>%24<br>

Extracted text: Problem 07-04 (algo) A firm has $1,700,000 in sales, a Lerner index of 0.56, and a marginal cost of $50, and competes against 800 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? %24

Jun 10, 2022

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Problem 07-04 (algo) A firm has $1,700,000 in sales, a Lerner index of 0.56, and a marginal cost of $50, and competes against 800 other firms in its relevant market. Instruction: Enter your responses...

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