Consider the following graph showing the labor market with a monopsony firm. Which of the following...

 

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Consider the following graph showing the labor market with a monopsony firm. Which of the following statements is true? Wage (W) $11.50 $10.00 $8.75 80 MC 100 $ D₁ Labor (L) Select all that apply: The monopsony has higher labor costs than a competitive firm. The monopsony has lower labor costs than a competitive firm. The monopsony's labor costs are $700. The monopsony's labor costs are $1,000. Consider the following graph showing the labor market with a monopsony firm. Which of the following statements is true? Wage (W) $11.50 $10.00 $8.75 80 MC 100 $ D₁ Labor (L) Select all that apply: The monopsony has higher labor costs than a competitive firm. The monopsony has lower labor costs than a competitive firm. The monopsony's labor costs are $700. The monopsony's labor costs are $1,000.

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Answer is 875 x 80 700 Monosponist will pay th... View the full answer