A:

Review the data below in Table 4-1, and then answer parts a through c. Figure 4-1 a. If the rm employing this iaborwere a monopsonist, explain what the wage rate and the quantity of labor employed would be. b. If the market for this iabor were perfectly competitive. what would the wage rate and quantity of labor employed be? c. Explain what the impact on wages and employment would be if a large urban school district (the only signicant employer of K712teachers for200 miles), was broken into 85 independent schooleflrms' each competing for the services of good teachers