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+40Q 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?

Note : The answer should be typed