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    5. If price charged by the firm is Rs.10 and quantity sold is 15 units. Marginal cost is Rs. 5. What is

    Question

    If price charged by the firm is Rs.10 and quantity sold

    is 15 units. Marginal cost is Rs. 5. What is the Lerner’s Index of Monopoly power?
    A 1 Correct Answer Incorrect Answer
    B 0.5 Correct Answer Incorrect Answer
    C 1/9 Correct Answer Incorrect Answer
    D 1/4 Correct Answer Incorrect Answer
    E 2 Correct Answer Incorrect Answer

    Solution

    Lerner’s Monopoly Power is P-MC/P = 10-5/10 = 0.5

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