Suppose the market for nursing services in a local community is so dominated by a singly community hospital that for all practical purposes it is considered a monopsony. Using the diagram below, answer questions 1-2.

-If the market were perfectly competitive instead of dominated by a monopsonist, what would the equilibrium wage and level of employment be?

Question

Suppose the market for nursing services in a local community is so dominated by a singly community hospital that for all practical purposes it is considered a monopsony. Using the diagram below, answer questions 1-2.
 
-If the market were perfectly competitive instead of dominated by a monopsonist, what would the equilibrium wage and level of employment be?

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The Answer of Suppose the market for nursing services in a local community is so dominated by a singly community hospital that for all practical purposes it is considered a monopsony. Using the diagram below, answer questions 1-2.
 
-If the market were perfectly competitive instead of dominated by a monopsonist, what would the equilibrium wage and level of employment be?

Suppose the Market for Nursing Services in a Local Community