Figure 10.3
The marginal value curve and expenditure curves in the diagram above are those of a monopsony.
-Refer to Figure 10.3. What price will the monopsonist pay when maximizing profit?

Question

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The Answer of  Figure 10.3
The marginal value curve and expenditure curves in the diagram above are those of a monopsony.
-Refer to Figure 10.3. What price will the monopsonist pay when maximizing profit?

Figure 10.3 The Marginal Value Curve and Expenditure Curves in the Diagram