Solve both parts now early With a linear inverse supply function of an input of general formw = a + bx,the marginal cost function for that input for a monopsonist may be found as a function with the same intercept but twice the slope ofthe inverse supply. That is,MC(x) = a+ 2bx.Tina's marginal cost when contracting 95 hours is $(Round your answer to the nearest two decimals if necessary.) TinaTina owns tu only nail salon in town and i8 tuOnly cmplajesof meniamat8: Suppose te inverseQabos Supply of manicuntats ia aiven byW= 19t0.3Xwher w 8tarıd8 for tu hously wage and oc Standsfor tu number of work hourg in a day lwhoreoc is the Sum of work hoirs8 of all wrkes8).for Simplicity assume that marieuniita labouris tina'ss tina's tuu only Costs.part1O If the rumber of worst hours cortractedis 95. and if tina Seek8 to maxtnize pofit tehourdy wase She would Ppag every worlkers is .

Since you have asked multiple question we will solve first question for you.

Witha linear inverse supply function of an input of general form w = a+ bx, the marginal cost function for that input for a monopsonist may be found as a function with the same intercept but twice the slope of the inverse supply, That is, MC(X)= a+ 2bx. Tina's marginal cost when contracting 95 hours is $ (Round your answer to the nearest two decimals if necessary)

Witha linear inverse supply function of an input of general form w = a+ bx, the marginal cost function for that input for a monopsonist may be found as a function with the same intercept but twice the slope of the inverse supply, That is, MC(X)= a+ 2bx. Tina's marginal cost when contracting 95 hours is $ (Round your answer to the nearest two decimals if necessary)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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