General Knowledge Economy

The Rule of thumb to express price directly as a mark up over marginal cost is:

1
\(P=\frac{M C}{1+\left(\frac{1}{E_d}\right)}\)
2
\(P=\frac{M C}{1-\left(\frac{1}{E_d}\right)}\)
3
\(P=\frac{M C+1}{E_d}\)
4
\(P=\frac{M C-1}{E_d}\)

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