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BB: The rm in question is a monopsony in labor hiring- The rm is a price-taker In the output market and the output prioe is $2 per unit. The total product of labor is presented in Columns (1} and (2] of the table below, while the reservation wage of workers are presented in Columns [7) and [8). Supplyr of Labor {8) Marginal Resource Cost , Workers Employed of Labor Supplied {I} Fill In the blank cells in Column (31 and then compute the nn's demand for labor In Column {4}- (Ii) Fill In the blank cells In Column (61 and then compute the nn's marginal resource cost of labor In Column (5]. [Iii] How many units of labor should the firm hire? Answer: [Iv] Given {iii}, how manyr units of output would the rm produce? Answer: units (it) Given (iii), how much should the rm pay Its workers? Answer: S [vi] What Is the total producer surplus accrued to the workers hired? Answer: 5 (Hint: Add up the surpluses of individual workers.)