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QUESTION
c. What is the Lerner index of market power at the monopoly price? Lerner Index is a measure of monopoly power which equals the markup over marginal cost as percentage of price. Its value ranges fro
c. What is the Lerner index of market power at the monopoly price?
Lerner Index is a measure of monopoly power which equals the markup over marginal cost as percentage of price. Its value ranges from 0, in case of a perfect competition, to 1, in case of a pure monopoly.
