An industry is known to face market price elasticity of demand Q, P = -3 (Assume this

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An industry is known to face market price elasticity of demand €Q, P = -3 (Assume this elasticity as constant as the industry moves along its demand curve.) The marginal cost of each firm in this industry is $10 per unit, and there are five firms in the industry. What would the Lerner Index be at the Cournot equilibrium in this industry?
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Microeconomics

ISBN: 978-0073375854

2nd edition

Authors: Douglas Bernheim, Michael Whinston

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