A monopsonist will buy ________ units of input than a competitor, and will pay ________ per unit.

Name: A monopsonist will buy ________ units of input than a competitor, and will pay ________ per unit.
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A monopsonist is a single buyer in a market with many sellers. Therefore, it can exercise market power and pay a lower price for inputs than in a competitive market. As a result, it will buy fewer units of input than a competitor, and pay less per unit.

A Monopsonist Will Buy ________ Units of Input Than a Competitor