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+20QTC=$100,000+20�   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 substitute for the magnometer and the price elasticity increases to –2.25, what price should Unique charge?

Q: How has Covid-19 affected the market for gasoline?  Which of the main influences of supply and…

A: Factors affecting demand and supply are important in determining market equilibrium, which is the…

Q: All of the following can change the supply curve EXCEPT:

A: A supply curve depicts the combination of price and quantity supplied, keeping other non-price…

Q: The following is information for the economy of Tandor, where taxes are wholly autonomous: C 60+…

A: The level of income can be calculated through the expenditure method by taking the consumption,…

Q: a) The price per unit of consumption is 1, the hourly wage is w, and the worker has a non-labor…

A: Consumption: Consumption refers to the goods and services that a person uses to satisfy their wants…

Q: The following graph plots daily cost curves for a firm operating in the competitive market for…

A: A perfectly competitive firm is a price taker, which means it takes the price set by the market…

Q: Consider the competitive market for rhenium. Assume that no matter how many firms operate in the…

A: Given,  A competitive market for rhenium.  The supply curve shows the range of quantities that a…

Q: A consumer has income of $15,000. Pillows costs $35 per pillow, and soda costs $70 per bottle.…

A: According to the rationality assumption in microeconomics, consumers are assumed to be rational and…

Q: ou purchase a certificate of deposit that pays an advertised rate of 2.30% interest per year. Your…

A: The rate of return signifies the interest rate paid on the deposited amount. The nominal rate of…

Q: Indicate how each of the following would affect Vietnam's balance of payments. Indclude a…

A: Balance of payment is defined as an accounting statement that records the economic transactions that…

Q: An asset costs $14300. What declining-balance depreciation rate would result in the scrap value of…

A: Given: The first cost of the asset P =$14300 Scrap value after 4 years (F)=5820 Formula to find book…

Q: A manufacture has been selling 1900 television sets a week at $510 each. A market survey indicates…

A: Production is an essential component of the economy because it adds value to the economy by bringing…

Q: Assume immigrant labor is a substitute of native labor. Which of the following is true? Native…

A: Dear student, you have asked multiple questions in a single post. In such a case, as per the policy,…

Q: Consider a simple model to estimate the effect of factors on number of children of a women in…

A: Regression is a statistical method used to analyze the relationship between one or more independent…

Q: Pelican Point Financial Group's clientele consists of two types of investors. The first type of…

A: Given that, The first type of investor - Net worth = $2.5 million No fee-based transactions = Up to…

Q: 6 adults and 4 senior citizens have to pay $228 while 13 adults and 7 senior citizens have to pay…

A: Given that:Cost of 6 adults and 4 senior citizens to visit exhibition = $228Cost of 13 adults and 7…

Q: The following graph shows three total expenditure lines for an economy at three different price…

A: We have given the three total expenditure lines for an economy at three different price levels.…

Q: A forecast of impending inflation caused by rapid growth in spending would likely cause the Federal…

A: The Fed is the US central bank. Congress established it in 1913 to promote a stable and flexible…

Q: Suppose that widgets can be produced using two different production techniques, A and B. The…

A: There are two production techniques, A and B Input requirement for each level of output is given…

Q: Consumer surplus in Nicaragua with trade is

A: Consumer surplus is the area above the price line and under the demand curve.

Q: Calculate the present worth of a geometric gradient series with a cash flow of $42,000 in year 1 and…

A: Present value is the value of investment in today's dollar.  Future value is the value of investment…

Q: The government possesses the tools necessary to influence the output level in the short run through…

A: Stabilization policy: refers to the use of government policies, specifically fiscal and monetary…

Q: A city has developed a plan to provide for future municipal water needs. The plan proposes an…

A: Present worth is a financial calculation that estimates the current value of future cash flows. It…

Q: Give typing answer with explanation and conclusion  Production function Y=8*K^.33*L^.66 Now what if…

A: Given production function is :  Y = 8 K0.33 L0.66

Q: If an interval estimate is said to be constructed at the 90% confidence level, the confidence…

A: Confidence coefficient is the confidence level in proportion rather than percentage.  A confidence…

Q: Describe Blanchard’s Model of Situational Leadership (Theory) and relate this to coaching strategies…

A: Blanchard's Model of Situational Leadership is a theory that proposes that effective leadership…

Q: in the short run, a tool manufacturer has a fixed amount of capital. Labor is a variable input. The…

A: A profit maximizing firm continues on hiring additional labor up to the point that the additional…

Q: a) What is the total profit generated from the two products, as a function of the two decision…

A: The profit function is a mathematical representation of the relationship between the cost and…

Q: True or False. Provide an explanation - all points are awarded on the basis of the explanation. If a…

A: TRUE. Explanation: In a competitive market, the price of the firm's output is determined by market…

Q: The graph on the right illustrates the demand and marginal revenue curves facing a monopoly in an…

A: The structure of a market where there is a single seller who is in turn selling a unique product in…

Q: 1. The following graph depicts a monopoly. a. Label the demand curve with the letter 'D', the…

A: In a monopoly,  The monopolist will produce where the marginal revenue is equal to the marginal…

Q: Consider the competitive market for ruthenlum. Assume that no matter how many firms operate in the…

A: Market demand means the quantity of goods that all the consumers in a market are willing and able to…

Q: 2. Calculating marginal revenue from a linear demand curve The blue curve on the following graph…

A: Demand refers to the quantity that a consumer wishes to buy at a given price in a given period of…

Q: 3. Capital labor ratio is denoted by the equation K/L where K=capital and L=labor. If the total…

A: Capital-labor ratio refers to the amount of capital per unit of labor input in a production process.…

Q: 16. You are the CEO of Comchip. Each of the firm's computers contain a unique chip that is produced…

A: Total cost is the total expenses incurred by a firm while producing goods or services. It is the…

Q: Consider a small town that has two grocery stores from which residents can choose to buy a gallon of…

A: Nash equilibrium is the point of a game corresponding to which each participant optimizes his…

Q: Mimi wants to support her son Jeff if he looks for work but not otherwise. Jeff (unlike most young…

A: To calculate the pure strategy Nash equilibrium, the best response of each player is calculated and…

Q: What is the required reserve ratio? A) The suggested percentage of total deposits that a bank should…

A: The required reserve ratio (RRR) refers to the proportion of deposits that banks are legally…

Q: The change in a commodity's price p(t) is proportional to the excess demand for the commodity. If…

A: Since, we are given the functional form of price, we have to put given values of price at t=0 &…

Q: (d) Suppose the game is repeated indefinitely, and each player discounts his/her payoff with a…

A: A two-person game is a game where there are two players, each with their own set of…

Q: Determine the future worth of payment of P2500.00 at the beginning of every quarter for 12 years at…

A: Quarterly payment = 2500 Number of years = 12 years  Number of compounding periods = 12*4 = 48…

Q: Show how each of the following would affect the U.S. balance of payments. Include a description of…

A: The U.S. balance of payments is a record of all economic transactions between the United States and…

Q: Table 8-10 Year 2010 2014 Oranges Produced 1,800 2,000 Price of Oranges $0.90 1.00 Shirts Produced…

A: Real GDP will be making an adjustment of the numbers with the fixation on the currency value,…

Q: Cho makes sweaters in her home. Starting with just some knitting needles and yarn, she was able to…

A: Marginal Price Product (MPP) refers to the change in the total revenue a firm receives when it…

Q: Mike Carlton, financial analyst at MVR Corporation, is examining the behavior of quarterly utility…

A: Total Cost: The term total cost refers to the cost that includes the total variable cost and the…

Q: a) Find out Mr. A’s optimal consumption levels (i.e. C1*, C2*) and optimal savings (i.e. S1*, S2*)…

A: Consumption refers to the process of using goods and services to satisfy one's needs and wants. In…

Q: The change in a commodity's price p(t) is proportional to the excess demand for the commodity. If…

A: Excess demand refers to the difference between the quantity of a good or service that consumers are…

Q: Consider a company A operating in an oligopoly which has a market share of 20% and a unit cost of…

A: Economies of scale refer to the cost advantages that a company can achieve by increasing its…

Q: Q1. Consider the following game, presented in matrix form: P1 P2 A B X 8, 2 6,9 Y 6,3 4,8 Z 2,6 1,5

A: In Iterative elimination method of finding Nash equilibrium point we eliminate all the dominated…

Q: As the manager of Smith Construction, you need to make a decision on the number of homes to build in…

A: When the gap between total revenue and total costs is maximized, profit is produced. The difference…

Q: In a world of judgements in order to be efficient and to reduce the cost information. O Perfect…

A: Cost information is the term used to describe the facts and statistics used to quantify the costs…