Unique Creations holds a monopoly position in the production and sale of magnometers. The Cost function facing Unique is estimated to be  TC=$100,000+20Q What is the marginal cost (MC) for Unique? If the price elasticity of demand for Unique is currently -1.5, what price should unique charge? What is the marginal revenue (MR) at the price computed? If a competitor develops a subsitute for the magnometer and the price elasticity increases to -2.25, what price should Unique charge?

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