Which of the Following Statements Is TRUE When Comparing Monopsony

question 50

Multiple Choice

Which of the following statements is TRUE when comparing monopsony and competitive labor markets?

• A) The monopsony hires more workers but pays a lower wage.
• B) The monopsony hires more workers at a higher wage.
• C) The monopsonist's wage is lower and quantity of labor higher than would prevail under competition.
• D) The monopsonist's wage and quantity of labor are lower than would prevail under perfect competition.

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