Coke Brothers Coal Mining operates in a remote area. Because of its location, it has monopsony power in the labor market. Its marginal revenue product of labor curve is MRP_L=400-5, where is the total number of miners it hires and is measured in thousands of dollars per miner. The labor supply curve of local miners is W=5-50, where Wis the wage.

a.What is Coke Brothers Coal Mining's marginal expenditure curve (or marginal value product) for labor? State the specific equation and plot labor supply, labor demand, and the marginal expenditure curve on the graph.

b.With monopsony power, what quantity of labor does it want to hire, and what wage will it pay? Solve for the numeric answer and enter this solution on the graph.

c.If instead, Coke Brothers Coal hired workers in a competitive labor market, what would the quantity of labor and wage? Solve for the numeric answer and enter this solution on the graph.