Q2-A: Consider a monopsonist who is the Monopsony only buyer in the local labor market. Wage (i) (4.5 pts) Draw a theoretically correct MRCL curve for the firm, and clearly Labor label it as MRCL. Supply (ii) (4.5 pts) Identify the firm's MRPL curve, and clearly label it as MRPL. (iii) (4.5 pts) Determine the firm's profit- maximizing labor quantity and denote that quantity as LM on the horizontal axis. (iv) (4.5 pts) Determine the firm's profit- Labor Demand maximizing wage offer and denote that wage as WM on the vertical axis. Labor Quantity