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 priceimarginal cost ratio was - (Enter your responso rounded to two decimal 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 munus sign)

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