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Refer to the Above Graph

Question 11

Multiple Choice

Refer to the above graph. Under monopsony in the hiring of labor services, the wage rate will be: A) W<sub>1</sub> and Q<sub>1</sub> workers will be hired. B) W<sub>2 </sub>and Q<sub>2 </sub>workers will be hired. C) W<sub>2</sub> and Q<sub>1</sub> workers will be hired. D) W<sub>3</sub> and Q<sub>1</sub> workers will be hired. Refer to the above graph. Under monopsony in the hiring of labor services, the wage rate will be:


A) W1 and Q1 workers will be hired.
B) W2 and Q2 workers will be hired.
C) W2 and Q1 workers will be hired.
D) W3 and Q1 workers will be hired.

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