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TheBoss is a non-discriminating monopsony in the market for labor in Smalltown, USA. TheBoss faces an (inverse) labor supply function of: W = 80 +
TheBoss is a non-discriminating monopsony in the market for labor in Smalltown, USA. TheBoss faces an (inverse) labor supply function of: W = 80 + (.5) E TheBoss's (inverse) demand curve for labor is: W = 200 - E TheBoss hire will hire 60 workers and pays workewrs $110 a/ Larry, Moe and Curley all live in Smalltown. There reservation wages are $90, $105 and $115, respectively. Who will work in this market? b/Continuing from Question 47. Suppose that a minimum wage of $120 is imposed in Smalltown. Who will work in this market
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