If a monopsony labor market suddenly were transformed into a perfectly competitive labor market, how would the wage and employment change?
Monopsony lowers both wage and employment when compared to the competitive labor market.
269 MCQ for effective preparation of the test of Microeconomics of Economics section.
Read the MCQ statement: If a monopsony labor market suddenly were transformed into a perfectly competitive labor market, how would the wage and employment change? , keenly and apply the method you have learn through the video lessons for Microeconomics to give the answer. Record your answer and check its correct answer and video explanation for MCQ No. 95-4105.