When its workers have unionized, the monopsonist hires labor until the marginal revenue product is

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In a labor market, when workers have unionized, a monopsonist (a single buyer of labor) will hire labor until the marginal revenue product (MRP) of labor is equal to the marginal labor cost (MLC). This is because the union's negotiation typically leads to a wage that reflects the value of the marginal product of labor, aligning the employer's cost considerations with the productivity of the additional labor.

When Its Workers Have Unionized, the Monopsonist Hires Labor Until