Take an monopsony with an inverse demand of P = 20-.5Q equal to marginal revenue and inverse supply of P = 2+.25Q equal to marginal cost. Find the equilibrium price, quantity, all 3 surpluses, and any deadweight loss. Show your work. Part II Using the same equations as question 2, find the same outcomes as before but with a price floor at 8. What does this tell us about monopsony? Explain

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