The following figure shows the marginal cost [MC],average cost [AC],and demand [D] curves for a monopsonist in the labor market.
Figure 16-2 ![The following figure shows the marginal cost [MC],average cost [AC],and demand [D] curves for a monopsonist in the labor market. Figure 16-2 -Refer to Figure 16-2.When the monopsonist is in equilibrium,the wage rate paid to labor is _____. A) P<sub>1</sub> B) P<sub>2</sub> C) P<sub>3</sub> D) 0](https://d2lvgg3v3hfg70.cloudfront.net/TB1825/11ea77e2_d752_715c_91bf_45a4fb835d62_TB1825_00_TB1825_00.jpg)
-Refer to Figure 16-2.When the monopsonist is in equilibrium,the wage rate paid to labor is _____.
A) P1
B) P2
C) P3
D) 0
Correct Answer:
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