Labor market ex for monopsonist labor demand is qd 220-5w, Business Economics

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Labor market ex for monopsonist labor demand is qd 220-5w

Labor market ex for monopsonist. Labor Demand is Qd= 220-5w. Labor supply is Qs=-45+8w. Union has no market power, and so league acts as a monoposonsit facing marginal expenditure curve. ME=Q/4+5.624 (This is the derivative of (labor supply curve solved for wage* Q) w/respect to q) find Eqm. labor and wage in this market.

Now assume the league has no market power, players act as craft unction and restrict # players hired in the league to 100. What is Eqm. Wage in this case?

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Business Economics: Labor market ex for monopsonist labor demand is qd 220-5w

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