A monopolist will hire fewer workers than a competitive firm, other things being equal, because

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A monopoly faces a downward-sloping demand curve, so in order to increase sales, the monopolist must lower the price of the product. This means that the marginal revenue (MR) of the product is less than the price of the product. In contrast, a competitive firm faces a horizontal demand curve, so it can sell as much as it wants at the market price. If a monopolist hires more workers, it must pay more wages, which will increase its costs and reduce profits. Thus, a monopolist will hire fewer workers than a competitive firm, other things being equal.

A Monopolist Will Hire Fewer Workers Than a Competitive Firm