3.6 A firm is a monopoly in the output market and a monopsony in the input market....
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3.6 A firm is a monopoly in the output market and a monopsony in the input market. Its only input is the finished good, which it buys from a competitive market with an upward-sloping supply curve. The firm sells the same good to competitive buyers in the output market. Determine its profitmaximizing output. What price does it charge in the output market? What price does it pay to its suppliers?
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