The inverse labour demand curve of a monopsonist employer is W= 37,500 – 80L, where W is the annual salary and Lis the number of workers hired. The labor supply is given by W=9,400 + 108L. (a) The marginal expenditure equation is ME= Do not include a comma in your answer. Please use capital letters (e.g. L not I) (b) To the nearest integer, the monopsonist would hire 7 workers and, given that number of workers, the salary they would pay is, rounded to 2 decimal places (e.g. 4.12) 数字 Do not include a comma in your answer.
The inverse labour demand curve of a monopsonist employer is W= 37,500 – 80L, where W is the annual salary and Lis the number of workers hired. The labor supply is given by W=9,400 + 108L. (a) The marginal expenditure equation is ME= Do not include a comma in your answer. Please use capital letters (e.g. L not I) (b) To the nearest integer, the monopsonist would hire 7 workers and, given that number of workers, the salary they would pay is, rounded to 2 decimal places (e.g. 4.12) 数字 Do not include a comma in your answer.
Chapter16: Labor Markets
Section: Chapter Questions
Problem 16.5P
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