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Suppose that a new ultimate frisbee league is monopolistic and the supply of labor curve can be described as Ls=-700+100w(where w is in thousands per
Suppose that a new ultimate frisbee league is monopolistic and the supply of labor curve can be described as
Ls=-700+100w(where w is in thousands per season). Suppose also that players marginal revenue product is MRPL=19-.02L. How will the deadweight loss change in this market if the player's union negotiates for a minimum wage of $11,000?
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