To a perfectly competitive firm in the labour market,the labour supply curve is __________;to the monopsonist,it is __________.

Name: To a perfectly competitive firm in the labour market,the labour supply curve is __________;to the monopsonist,it is __________.
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Question

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In a perfectly competitive labour market, the firm is a wage taker, so the labour supply curve is horizontal. For a monopsonist, the firm is the sole buyer of labour, so the labour supply curve is upward-sloping.

To a Perfectly Competitive Firm in the Labour Market,the Labour