Q1. How does your analysis of VMP change if employer is a monopolist producer of its output but price-taker in the labor market?
Q2. Canadian gas companies shipped 21.4 billion cubic meters to the US last year, up from 20.1 billion in 1983, according to figures released Tuesday by the Canadian Gas Association. But lower prices permitted under new federal regulations instituted last year, reduced the over-all take from $3.94 billion to $3.92 billion."
Compute demand of price elasticity of for natural gas sold to the US.