The inverse labour demand curve of a monopsonist employer is W = 41,500 – 101L, where W is the annual salary and L is the number of workers hired. The labor supply is given by W = 9,800 + 109L.   (a) The marginal expenditure equation is ME=__________   (b) To the nearest integer, the monopsonist would hire  ______  workers and, given that number of workers, the salary they would pay is, rounded to 2 decimal places (e.g. 4.12)    ____

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