A monopsonist only uses labor to produce an output according to production function Q = 2L, where Q is output and L is labor. The output sells for a price of $20 per unit. The supply curve for labor can be written w = 4+L. What is the monopsonist's demand for labor in this market?
A) L = 12.
B) L = 18.
C) L = 22.
D) L = 24.
Correct Answer:
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A)to be efficient, since they
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A)Any monopoly based
