題組內容

2. The inverse market demand curve for a fnal good is p = 100 - Q and the marginal cost of supplying labor is MCL= 40. Each unit of output requires half unit of labor, L, and no other factor. That is, Q = 2L.

B. (10 points) If both the factor and output markets are a monopoly, what are the equilibrium quantity and price in these two markets? How much profit does each firm make?