Compared with a competitive market,a monopsonist will pay a ________ wage and hire ________ workers.

Name: Compared with a competitive market,a monopsonist will pay a ________ wage and hire ________ workers.
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Question

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A monopsonist has the power to hire workers at a lower wage rate than in a competitive market due to its market power. As a result, fewer workers may be hired because of the higher wage cost for the firm. Hence, option C is correct.

Compared with a Competitive Market,a Monopsonist Will Pay a ________