Suppose the market for nursing services in a local community is so dominated by a singly community hospital that for all practical purposes it is considered a monopsony. Using the diagram below, answer questions 1-2.
-What is the equilibrium wage and level of employment under monopsony?
A) W1 and E1.
B) W2 and E0.
C) W0 and E0.
D) W0 and E1.
E) W0 and E2.
Correct Answer:
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