A firm selling a single t

A firm selling a single t

A firm selling a single type of product has $10 billion in sales, a Lerner index of 0.25, a marginal cost of$25, and competes against 4 other firms in its relevant market.a. What price does this firm charge its customers? (The firm charges the same price per unit to each customer.)b. By what factor does this firm mark up its price over marginal cost?c. Do you think this firm enjoys much market power? Explain.

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