How many nursing units it will hire

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Reference no: EM13244119

The following is a labor supply function: Wage per hour Quantity of Nurse Supplied $2 1 4 2 6 3 8 4 10 5 12 6 Nurses are used by the clinic to provide clinic visits. Each visit brings in $2 in revenue for the clinic. The relationship between nursing units and clinic visits is as follows: Quantity of Nurses Total Clinic Visits 1 5 2 9 3 12 4 14 5 15 The provider is assumed to maximize profits. Determine the providerÂ's equilibrium wage and how many nursing units it will hire. The provider is a monopsonist, which means it is the sole purchaser of labor in the market.

Reference no: EM13244119

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