The inverse labour demand curve of a monopsonist employer is W = 42,500 – 118L, where Wis the annual salary and L is the number of workers hired. The labor supply is given by W= 9,600 + 100L. (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 数字 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 = 42,500 – 118L, where Wis the annual salary and L is the number of workers hired. The labor supply is given by W= 9,600 + 100L. (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 数字 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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Transcribed Image Text:The inverse labour demand curve of a monopsonist employer is W = 42,500 – 118L, where Wis the annual salary and Lis the number
of workers hired. The labor supply is given by W= 9,600 + 100L.
%3D
(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
数字
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.
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