Given the information in the table below, graph the marginal cost of labor for a monopsony firm. Plot only the points that can be gathered from the table. Supply of Labor 1 |2 3 4 5 |$1 per $2 per $3 per $4 per $5 per |hour |Wage Rate |hour hour |hour |hour Total Cost of Labor $1 $4 $9 $16 $25 Marginal Cost $1 of Labor $3 $5 $7 $9 Provide your answer below: (4.5, 7) -6- (4.5, 4.5) -4 (3, 3.5) (1,5, 2.5) -2- (0.5, 1.5) MC of Labor

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