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(23 points in total) Suppose a prot-maximizing firm is a monopolist in the output market. The inverse market demand curve is p = 110 2Q and the inverse labour supply curve is w = 4L. Each unit of output requires three units of labour, L, and no other factor: Q = 3L. 3. (10 points) If the rm is a price taker in the labour market, what are the equilibrium prices and quanties in both factor and output markets, and what is the rm's prot? b. (9 points) If the rm is instead a monopsonist in the labour market, what are the equilibrium prices and quanties in both factor and output markets, and what is the rm's prot? c. (4 points) Using your answers to parts a and b, calculate the value of the deadweight loss of monopsony in the labour market