Use the Following Statements to Answer This Question: I

question 112

Multiple Choice

Use the following statements to answer this question: I. If the market supply is perfectly elastic, then a few buyers with monopsony power can achieve the same percentage mark-down in the purchase price as a pure monopsonist.
II) The deadweight loss associated with a monopsony declines as the market supply curve becomes more elastic.

• A) I and II are true.
• B) I is true and II is false.
• C) II is true and I is false.
• D) I and II are false.

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