Why Does a Monopsony's Marginal Cost of Labor (MCL)curve Lie

question 54

Multiple Choice

Why does a monopsony's marginal cost of labor (MCL) curve lie above the market supply of labor curve? Because the monopsony

• A)Must raise the wage it pays all employees in order to attract and hire additional workers
• B)Must pay higher wages to only the last workers hired in order to attract and hire additional workers
• C)Faces the market demand and marginal revenue curves
• D)Must lower the wage it pays all employees in order to maintain profitability
• E)Has such high labor costs relative to the supply of labor

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