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QUESTION

Suppose that output market is in a perfect competition with the price of $10 per unit and input market is a monopsony with the following information...

Suppose that output market is in a perfect competition with the price of $10 per unit and input market is a monopsony with the following information assuming that labor is the only input.

L MP W

1 20 20

2 18 40

3 16 60

4 14 80

5 12 100

6 10 120

7

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