In comparison to an employer in a competitive labor market, a monopsony employer hires ________ workers and produces ________ output.

Name: In comparison to an employer in a competitive labor market, a monopsony employer hires ________ workers and produces ________ output.
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A monopsony employer hires fewer workers and produces less output because it has market power to set wages below competitive levels, leading to reduced employment and production.

In Comparison to an Employer in a Competitive Labor Market