3a) Widgeco produces widgets for a perfectly competitive national widget market, but because they are located in an isolated town in the Yukon, they are the only firm hiring local widget makers. Their MRP curve is given by W=15-2Q/3, and their AWC curve is given by W=3+2Q/3. Write the equation for Widgeco's MWC curve . [2 pts.]

3b) Solve for the wage and quantity of labor Widgeco would hire, if this were a perfectly competitive market. [5 pts.]

3c) Solve for the wage and quantity of labor Widgeco actually hires in this monopsonistic setting. [5 pts.]

3d) Calculate the deadweight loss caused by this market distortion. [2 pts.]

3e) Draw a complete graph of this market, labelling all axes, curves, intercepts, equilibrium points, and the deadweight loss. [6 pts.]