INDUSTRY STRUCTURE: Monopoly in Output Market and Monopsony in Labour Market. TIME FRAMEWORK: Short Run. The production function of the business is given by: (1) Q = L In the production function, Q is the annual output in tons, L is the number of workers employed. The Demand for the product is P = - Q. The wage rate is $ w = L. In the short run, calculate the following: a) The equilibrium number of workers employed. b) The wage paid the Monopsonist. c) The price charged by the Monopolist