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yufeige4 yufeige4
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5 years ago
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.
Textbook 
Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
Author:
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javiermorillajaviermorilla
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yufeige4 Author
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#2
5 years ago
Thank you, thank you, thank you!
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