Question: Suppose a monopolist has the demand function Q = 1,000P -3. What is the Lerner Index of monopoly power for this firm? A. 0 B.

Suppose a monopolist has the demand function Q = 1,000P -3. What is the Lerner Index of monopoly power for this firm? A. 0 B. 3/1000 C. 1/3 D. 3 E. Unknown

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