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14 December, 14:33

Other things equal, the monopsonistic employer will pay a

a. lower wage rate and hire fewer workers than will a purely competitive employer.

b. higher wage rate but hire fewer workers than will a purely competitive employer.

c. lower wage rate but hire a larger number of workers than will a purely competitive employer.

d. higher wage rate and hire a larger number of workers than will a purely competitive employer.

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Answers (1)
  1. 14 December, 14:38
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    Answer: The correct answer is "a. lower wage rate and hire fewer workers than will a purely competitive employer.".

    Explanation: Monopsony is generated when there are many people looking for work and there are only a few employers, who can afford to offer a lower salary than they would have to offer if there was more competition for workers.
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