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  3. problem 07-04 (algo) a firm has $1,900,000 in sale

Problem 07-04 (algo) A firm has $1,900,000 in sales, a Lerner index of 0.55, and...

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Problem 07-04 (algo) A firm has $1,900,000 in sales, a Lerner index of 0.55, and a marginal cost of $50, and competes against 800 other firms in its 10 polnts relevant market. Instruction: Enter your responses rounded to two decimal places. a. What price does this firm charge its customers? eBook Print References S b. By what factor does this firm mark up its price over marginal cost

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