A monopsonistrsquos revenue as a function of its only input, Ask an Expert

Economics

A monopsonist’s revenue as a function of its only input is

R = az − bz2, z≥ 0

It is faced with a supply function for the input

z = α + βp, p ≥ 0

where p is the input price, and a, b, α, β > 0. Find the profit-maximizing price and quantity of the input the monopsonist will choose, and compare the analysis to that of the profit-maximizing monopoly

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91424024

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