Compare welfare in a market where a firm is both a monopsony and a monopoly (as in Question 3.6) to welfare in markets in which the firm has a monopsony in the input market but acts as a price taker in the output market.

Data From Question 3.6:-

A firm is a monopoly in the output market and a monopsony in the input market. Its only input is the finished good, which it buys from a competitive market with an upward-sloping supply curve. The firm sells the same good to competitive buyers in the output market. Determine its profit-maximizing output. What price does it charge in the output market? What price does it pay to its suppliers?