Question: Hello, may I have some help with this problem? The attached screenshot contains all information provided. In 2015, Apple introduced the Apple Watch. Assume that

Hello, may I have some help with this problem? The attached screenshot contains all information provided.

In 2015, Apple introduced the Apple Watch. Assume that the cost of producing the 38mm Apple Watch Sport was $83. The price was $334. What was Apple's price/marginal cost ratio? What was its Lerner Index? If Apple is a short-run prot-maximizing monopoly, what elasticity of demand did Apple believe it faced? Apple's price/marginal cost ratio was . (Enter your response rounded to two decimal places.) The value of Apple's Lerner Index (L) was :|. (Enter your response rounded to two decimal places.) Apple's elasticity of demand (2) is . (Enter your response rounded to two decimal places and include a minus sign.)

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