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A firm has $2,200,000 in sales, a Lerner index of 0.61, and a marginal cost of $50, and competes against 900 other firms in its relevant market.
Instruction: Round your answers to 2 decimal places.
a. What price does this firm charge its customers?
Let px be the price of good X and py be the price of good Y. Assume the income of this individual is strictly larger than 10px Derive the demand for good X and the demand for good Y as functions of the two prices and income.
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Suppose you are the manager of College computers, a producer of customized computers that meet specifications needed through the local university.
you have been hired as a consultant by your local mayor to look at the various market structures. your role is to
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