Table below shows information from the supply curve for labor for a monopsonist, that is, the wage rate required at each

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answerhappygod
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Table below shows information from the supply curve for labor for a monopsonist, that is, the wage rate required at each

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Table below shows information from the supply curve for laborfor a monopsonist, that is, the wage rate required at each level ofemployment
Labor Employed
Wage in $
Marginal Cost
1
1
2
3
3
5
4
7
5
9
6
11
a. Fill up the column in the table showing the monopsonist’smarginal cost of labor at each level of employment?
b. If each unit of labor’s marginal revenue product is $13, whatis the firm’s profit maximizing level of employment and wage?
c. If the labor’s marginal revenue product increase to $17, whatis the firm’s profit maximizing level of employment and wage?
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