Question: Part II: Answer each question as precisely as you can. Please show all work, and where possible justify your answer. (40 points) 1. A typical

Part II: Answer each question as precisely as you can. Please show all work, and where possible justify your answer. (40 points) 1. A typical (non-perfectly discriminating) monopsonist's demand curve can be written as VMPE 40-0.05 Ep. Labor is supplied is supplied to the firm according to w = 5 +0.1 Es. = a. How much labor does the monopsony hire? (4 points) sudom b. What wage does the monopsony pay? (4 points) 000 ST

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