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Suppose a monopoly producer is also a monopsonist in the labor market Demand for the output is P=100

Suppose a monopoly producer is also a monopsonist in the labor market Demand for the output is P=100-Q The production function is Q=L, and the labor supply curve is w=10+L How much labor does the firm hire? What wage is paid?
 

Apr 25 2020 View more View Less

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