This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The Lerner Index is A) the ratio of the difference between price and marginal cost to price. B) ... (Read 80 times)

wenmo

  • Hero Member
  • *****
  • Posts: 540
on: Jul 1, 2018
The Lerner Index is
 
  A) the ratio of the difference between price and marginal cost to price.
  B) equal to (Price - MC)/Price.
  C) a measure of market power.
  D) All of the above.

Question 2

In a competitive market where the elasticity of the market demand curve is -1.5, the number of firms is 20, and an individual firm faces a residual demand curve with an elasticity of -68. What is the elasticity of the supply curve?
 
  A) 0.5
  B) 1.2
  C) 2
  D) Cannot be determined.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

enass

  • Sr. Member
  • ****
  • Posts: 380
Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

C


wenmo

  • Member
  • Posts: 540
Reply 2 on: Jul 1, 2018
Excellent

anyusername12131

  • Member
  • Posts: 327
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

The term bacteria was devised in the 19th century by German biologist Ferdinand Cohn. He based it on the Greek word "bakterion" meaning a small rod or staff. Cohn is considered to be the father of modern bacteriology.

Did you know?

Allergies play a major part in the health of children. The most prevalent childhood allergies are milk, egg, soy, wheat, peanuts, tree nuts, and seafood.

Did you know?

Ether was used widely for surgeries but became less popular because of its flammability and its tendency to cause vomiting. In England, it was quickly replaced by chloroform, but this agent caused many deaths and lost popularity.

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

Did you know?

Complications of influenza include: bacterial pneumonia, ear and sinus infections, dehydration, and worsening of chronic conditions such as asthma, congestive heart failure, or diabetes.

Mendel's breeding program that produced a 9 : 3 : 3 : 1 ratio Mendel's breeding program that produced a 9 : 3 : 3 : 1 ratio
Index of seed size and hardiness prior to, during, and after drought. Index of seed size and hardiness prior to, during, and after drought.
Body mass index table. Body mass index table.
Chinese officials have become concerned about the lopsided gender ratio that their “one couple, ... Chinese officials have become concerned about the lopsided gender ratio that their “one couple, ...
There Is a Difference between Natural and Added Sugars There Is a Difference between Natural and Added Sugars
If the price charged for a candy bar is p(x) cents, then x thousand candy bars will be sold in ... If the price charged for a candy bar is p(x) cents, then x thousand candy bars will be sold in ...
Video: Energy inputs and release in glycolysis Animation

For a complete list of videos, visit our video library