Why would practitioners care about the lerner index

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Reference no: EM133918733

Assignment:

A friend of yours, who unfortunately does not take any economics class, looked at your EC3322 lecture notes and asked: "Why would practitioners care about the Lerner index? I mean, in practice, the costs incurred by firms are their private information, and so practitioners can't compute Lerner index." Evaluate this argument.

Reference no: EM133918733

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