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)    ____

Suppose that a firm is producing in the short run with output given by: Q = 64L - L2The firm hires labor at a wage of $26 per hour and sells the good in a competitive market at P = $40 per unit. Find the firm’s optimal use of labor.Enter as a value.  ROUND TO THE NEAREST WHOLE NUMBER.

Explain it early I upvote

You are a labor economist trying to evaluate whether the labor market for computer scientists is competitive or monopsonistic. Based on previous research, you know that the production function for computers depends only on labor input: Y = -0.5L^2 + 10L; where Y is the output of computers and L is the quantity of labor used. The price of a computer is p = 2. You also know that the labor supply, as a function of the wage, for computer scientists is the following, where w is the wage per unit of labor: L = -10 + w. a. Find the equilibrium wages and employment (wc; Lc) that would prevail if the market for computer scientists were competitive. [Remember that a competitive firm takes the wage as given : that is, it assumes that the quantity of workers that it hires has no effect on the price of the next worker. (Of course, the equilibrium wage must equate demand and supply)].

B. Consider a firm who sells output at p=10 and has a short run production function Q(L)=20L-L2. Its wage rate function is w=40+2.5L. Suppose the firm is a monopsonist, how much labor will it hire to maximize profits?

Consider a competitive firm in both input and output markets. The production function for this firm is given by q = 10 (KL)^.2. The price of K is $1 and the price of the output is $5. Derive the demand for labor when K is variable.

The following diagram depicts a firm's demand curve given the economy-wide demand, and its tangent isoprofit curve. The firm faces a linear demand curve. The workers' average product of labour X equals 1. At B, which of the following statements is correct? Price, p: dollars 80+ W = 60 Iso-profit curve Demand curve Production function: q = n Quantity, q: Employment, n, given a production function where APL = A=1 200 a) Profits are $16,000. b) The slope of the isoprofit curve is -0.4. c) The marginal rate of substitution is -0.1. d) The markup is 0.1.

Consider a perfectly competitive labor market in which the demand for labor isgiven by E = 48,000 – (2,000/3)W, and the supply of labor is given by E = -8,000+ 1,000W. In these equations, E is the number of employee-hours per day, and Wis the hourly wage.a. What is the equilibrium number of employee-hours each day?b. Compute the employer surplus and the workers surplusc. Suppose the government imposes a minimum wage of $24 per hour. Whatwill be the resulting number of employee-hours after the imposition of thisminimum wage?d. What is the number of employee-hours per day hired and the number ofemployeese. Based on the question © Compute the employer surplus and the workerssurplusf. Compute the dead weight loss in this labor market with minimum wageProblem V

You are given the following information about a monopsonist: The demand is P= 25-0.25Q, the average expenditure curve is AE = 0.5Q, and the marginal expenditure curve is ME = 1Q. The quantity (Q) is in thousands of units. Given the information above, how much will the monopsonist purchase, and how much will it pay? (Round your responses to two decimal places.) The monopsonist will purchase thousand units at a price of $ per unit.

A monopsony company has 10 employees each earning $25 an hour. The company decided to hire a new employee at a rate of $30 an hour. The Marginal Labour Cost for employee number 11 is     $5     $30     $80     $25     $55