Fill in the correct labels for the following figure using the word bank below.
-B _____
Definitions:
Monopoly and Monopsony
A monopoly refers to a market with a single seller facing many buyers, whereas a monopsony is a market with a single buyer facing many sellers.
Marginal Product
The extra production resulting from the increase of a particular input by one unit, while keeping all other inputs unchanged.
Price of Labor
The compensation or wage paid to employees for their work or labor, often determined by market forces or negotiations.
Price of Capital
The cost of borrowing money or the rental cost of physical capital, which influences investment decisions in business and economic analysis.
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