Use the Following to Answer Question(s): Monopsony

question 29

Multiple Choice

Use the following to answer question(s) : Monopsony

-(Exhibit: Monopsony) Given ________ in the labor market, labor receives a wage that is _______ the MRP; in _______ , labor receives a wage that is ________ MRP.

• A) monopoly; less than; perfectly competitive factor markets; greater than
• B) monopsony; less than; perfectly competitive factor markets; equal to
• C) perfect competition; equal to; monopsonistic factor markets; greater than
• D) perfect competition; less than; monopsonistic factor markets; equal to

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