In 2015, Apple introduced the Apple Watch Assume that the cost of producing the 38mm Apple Watch Sport was $83. The price was $363. What was Apple's price/marginal cost ratio? What was its Lerner...

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Extracted text: In 2015, Apple introduced the Apple Watch Assume that the cost of producing the 38mm Apple Watch Sport was $83. The price was $363. What was Apple's price/marginal cost ratio? What was its Lerner Index? If Apple is a short-run profit- maximizing monopoly, what elasticity of demand did Apple believe it faced? Apple's price/marginal cost ratio was (Enter your responso rounded to two docimal places) The value of Apple's Lerner Index (L) was (Enter your response rounded to hwo decimal places ) Apple's elasticity of demand (c) is (Entor your rosponse rounded to two docimal places and include a minus sign)