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Business, 20.06.2020 17:57 zoilacarrillosfe14

4. In 2015, Apple introduced the Apple Watch. According to HIS Research, the cost of producing the 38mm Apple Watch Sport was $84. The price was $349. 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?

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