Question 3:The Lerner Index (Challenge , Lecture 20) In class we learned that a monopolist's markup over marginal cost can be expressed in terms of their price elasticity of demand: the Lerner Index. L. is equal to (P c)lP = 1/8. where P = price, c = marginal cost and E is the absolute value of the price elasticity of demand 3.a Which chocolate mix has most market power ? (2 marks ) Which product in the list of chocolate drink mixes do you believe has the most market power, in the sense of being able to profitably price above marginal cost? (This will probably be a name-brand product with loyal customers who wouldn't switch to another brand. even if it were a bit cheaper.) Note: Since these are real goods, you are absolutely allowed (but not required) to look up information about them online - official descriptions. reviews, Reddit threads, etc. If you do use outside sources , please cite them . Product Price per gram of the product : $lg Briefly explain y our reasoning 3.b Lowest price per gram for any chocolate mix ? (1 mark ) What is the smallest price per gram for any good in the list of chocolate drink mixes ? (If it's a tie, it's fine to list only one product .)