A firm has a marginal cost of $20 and charges a price of $40.The Lerner index for this firm is:
A) 0.20.
B) 0.50.
C) 0.33.
D) 0.75.
Correct Answer:
Verified
Q11: A Lerner index of 0 suggests:
A) monopoly.
B)
Q12: A Herfindahl index of 0 suggests:
A) monopoly.
B)
Q13: In perfect competition,which is NOT true?
A) Every
Q14: The concentration and Herfindahl indices computed by
Q15: Monopolistic competition is characterized by:
A) heterogeneous products.
B)
Q17: Which of the following is used to
Q18: An industry is comprised of 20 firms,each
Q19: Which of the following are measures of
Q20: The industry elasticity of demand for gadgets
Q21: According to the "feedback critique":
A) the conduct
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