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The Happyland Hospital is a monopsonist employer of nurses in the small city of Happyland. The supply function of nurses is S(W) = 0.1W- 100, whereWis the nurses' weekly wage. What is the hospital's marginal expenditure, ME? If the hospital's marginal benefit is $2000 per week no matter how many nurses it hires, what is the profit-maximizing number of nurses for the hospital to hire? What will the nurses' wage be? What is the deadweight loss?

Macroeconomics, Economics

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