Question: Which is true regarding the Lerner index (L)? Multiple choice question. (L) is a measure of how much firms mark up prices over total cost.

Which is true regarding the Lerner index (L)? Multiple choice question. (L) is a measure of how much firms mark up prices over total cost. (L) is a measure of how much firms mark up prices over variable cost. (L) is a measure of how much profit a firm earns. (L) is a measure of how much firms mark up prices over marginal cost

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