In a coal mining town, one employer is the sole buyer of labor services. Assume the labor supply curve and marginal revenue product functions are as given: LS=100W700MRPL=190.02L a. Find the inverse labor demand curve and use it to solve for the firm's marginal expenditure curve. b. How much labor will the employer hire? What wage will they pay? c. Assume that this were a competitive labor market. How much labor would be hired and what would the wage rate be? d. Calculate the deadweight loss associated with this monopsony firm