There are 2 initial diagrams, the left one represents bilateral monopoly, the ri

Question

There are 2 initial diagrams, the left one represents bilateral monopoly, the right a monopsony Click the graph image or click here to bring up a template on which to draw a graph to respond to the questions in this quiz Monopsony Outcome: Before Arbitration Bilateral Monopoly ME 80 300 1 2 3 456 789 Select the File/Copy commands in Google to make a copy of the graph in your Google Drive Account, then follovw the below instructions to complete the graph: 1. in the right hand diagram represent a monopsony equilibrium outcome. 2. in the left hand diagram represent a bilateral monopoly outcome.

Explanation / Answer

In right diagram equilibrium is at intersection of blue line and red dashed line

In left hand diagram intersection of dashed blue line and dashed red line

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