4) Some time ago, I had dinner with a Silicon Valley CEO and asked him how he prices his high-end video cards. He responded, "Well, I price my product at $1000. I am in a highly competitive industry and know that if I lower my price by $100, my demand goes up 300%." f) If the executive is pricing optimally according to the markup formula, what are his marginal costs? What is the Lerner Index of market power