Suppose the own price elasticity of market demand for retail gasoline is -05, the Rothschild index is 0 3, and a typical gasoline retailer enjoys sales of $1700 000 annually What is the price elasticity of demand for a representative gasoline retailer's product? Instruction: Enter your response rounded to two decimal places If entering a negative number, be sure to use the negative (-)A fum has $1700,000 in sales a Lemer index of 056, and a marginal cost of $50, and competes against 800 other firms in its relevant market Instruction: Enter your responses rounded to two decimal places a What price does this firm charge its customers? b. By what factor does this firm mark up its price over marginal cost