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A firm that is a monopolist in the output market and a monopsonist in the input market

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A firm that is a monopolist in the output market and a monopsonist in the input market

A firm that is a monopolist in the output market and a monopsonist in the input market

• will hire less labor and pay a lower wage compared to the perfectly competitive case.

• will hire the same amount of labor as if perfect competition prevailed in both markets, but pay a lower wage.

• will restrict the level of output but not that of employment compared to the perfectly competitive case.

• will hire less labor but pay the same wage compared to the perfectly competitive case.

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Economics Today: The Micro View

Edition: 19^th

Author: Miller

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yufeige4 Author

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Thank you, thank you, thank you!

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