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Consider the supply schedule for a monopsonist: Quantity of Wage Rate Total Cost of Marginal Marginal Labor Labor Factor Cost Revenue Product 0 $6 1

Consider the supply schedule for a monopsonist: Quantity of Wage Rate Total Cost of Marginal Marginal Labor Labor Factor Cost Revenue Product 0 $6 1 $8 $35 2 $10 $30 3 $12 $25 4 $14 $20 5 $16 $16 6 $18 $10

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