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Homework answers / question archive / Suppose FirmABC estimates that it is facing a firm-specific price elasticity of demand of -4

Suppose FirmABC estimates that it is facing a firm-specific price elasticity of demand of -4

Marketing

Suppose FirmABC estimates that it is facing a firm-specific price elasticity of demand of -4.2. Market demand elasticity is -1.6. Calculate the Lerner index of market power for FirmABC. Round your final answer to 2 decimal points.

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