Consider a newspaper in a small town that has monopsony power in hiring journalists. The following table shows the labor hours that will be supplied at each of the given hourly wages, as well as the total cost of labor at each quantity of labor. Suppose the newspaper's demand for labor as a function of the marginal value product of labor (MVPL) is given by L=8MVPL3

.

Compute the marginal expense (MEL

) and marginal value product (MVPL

) of adding an additional hour at each quantity and enter the values into the following table.

(Hours)	(Dollars per hour)	(Dollars per hour)	(Dollars per hour)
3	1	3
6	2	12
9	3	27
12	4	48
15	5	75