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Please be specific and step by step; and I think you need to calculate both monopoly and perfect competition Suppose a rm is the sole

Please be specific and step by step; and I think you need to calculate both monopoly and perfect competition

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Suppose a rm is the sole employer in town. facing a labor supply curve w(L) = 2L. This monopsony is a price taker in the output market and has demand for labor DL = 200 - L (this is the marginal revenue product of labor). Calculate the total L demanded, producer surplus, consumer surplus and DWL for this monopsony and compare these results to perfect competition

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