Question
1.A non-discriminating monopsonist firm has a production function q=100E-(1/10)E^2 .They face a labor supply curve of E=10w-40.The price of the good they sell is $1.
1.A non-discriminating monopsonist firm has a production function q=100E-(1/10)E^2 .They face a labor supply curve of E=10w-40.The price of the good they sell is $1.
a.What is the profit maximizing choice of wage and employment for the firm?
b.Suppose a minimum wage of $12 is implemented.What will be the firm's wages and employment?
c.Suppose a minimum wage of $40 is implemented.What will be the firm's wages and employment?
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China's Water Pollution Problems
Authors: Claudio O Delang
1st Edition
1317209257, 9781317209256
