Labor Markets and Monopsony Power The demand curve in the product market for a football team is given by: P(Q) = 200 - 30Q where Q is the number of wins for the team and P is the price they can charge

 Labor Markets and Monopsony Power The demand curve in the product market for a football team is given by: P(Q) = 200 - 30Q where Q is the number of wins for the team and P is the price they can charge. There are 30 teams and each team has a monopoly in the product market. The production function for each team is given by: Q (e) = 20 where ( is the amount of 'talent' that the hire. The aggregate supply curve for talent is: w(L) = 22 + L Unless otherwise noted, your answers should be in the same units as the problem specifies. Labor force does not have to be in whole numbers.