2.8 According to iSuppli (HIS) in 2010, its sixthgeneration iPod nano’s marginal cost is about $45, while its price is about $150. What is Apple’s price/

marginal cost ratio? What is its Lerner Index? If we assume (possibly incorrectly) that Apple acts like a short-run profit-maximizing monopoly in pricing its iPod Shuffle, what elasticity of demand does Apple believe it faces? (Hint: See Solved Problem 11.3.) A