3. (20 points) A rm produces output, measured by Q, which is sold in a market in which the price P=20. The output is produced using only labor as an input; the production function is 00.) = L. There are many suppliers of labor, and the supply of labor is determined by w = 2L, where w is the wage rate. The rm is a monopsonist in the labor market. a) How many units of labor will be hired by the monopsonist? What wage rate will the monopsonist pay? What is the monopsonist's prot? b) If the rm behaves like a rm in a perfectly competitive marker, how many units of labor will the rm hire and what wage the rm will pay? What is the rm's prot? 0) What is the dead weight loss of monopsony