Canvas XC Problem 3: Monopsony Model Q-15-3 Wage Quantity MRP-D Rate TRC MRC of Labor $ (Supply) 1 XXXXX 6 6 2 16 8 16 10 OU 3 14 10 10 30 14 4 12 12 48 18 5 20 6 10 14 14 70 22 13 16 16 46 26 XXXXX Problem 3a Monopsony Table: Referencing the table above, calculate the monopsonist's total labor resource marginal labor (resource) cost (MRC) at each level of employment. (Enter your answers in the answer boxes in t Eormulas TBC Quantity of Labor Wate 5 MNC ATRIC +AQnity of Lor was X 2 Question 5 Problem 3.b Answer the following questions, referencing the completed Monopsony Table in the previous question (1) Equilibrium: What will be the equilibrium marginal labor (resource) cost to the firm for the last worker hired? 5 3 pts (2) Mongosony Wage & Employment: The monopsonist will hire workers and pay a wage of $ D (3) Pure Competition Wage & Emolovment: If this firm hired workers in a purely competitive labor market, it would hire workers and pay a wager of $ Question 6 3314 Ex % 245 X C 50 # $ 6 B 7 3pts B " Canvas XCOB Questio 3+ 35--> Problem 3.c Monopsony Graph: Referencing the Monopsony graph shown above and your answers to the previous two questions, enter the requested values/labels for the following questions: (1) Graph Curves: Enter the labels for Lines #1, #2, and #3 into the following answer boxes (Use the curve's abbreviation). Line #1- MRC Line #2-5 Line #3-MRP 120 Wan&Emoovment Levels Enter the numerical values represented by the following arrows in the above graph Arrow #4-5 WI Arrow 5-5 W2 Arrow - wa Ex 1 D # 1 2 3 2 X C 2 25 44 % + " T B 6 27 B 9