For a monopsony, the marginal cost of labour is _______ the wage rate.

Name: For a monopsony, the marginal cost of labour is _______ the wage rate.
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In a monopsony, the employer faces an upward-sloping supply curve of labor. To hire additional workers, the monopsonist must increase the wage rate not only for the additional workers but also for all the previously hired workers. This makes the marginal cost of labor greater than the wage rate paid to the last worker hired.

For a Monopsony, the Marginal Cost of Labour Is _______