Relative to a competitive labor market, monopsony A) is also efficien
Relative to a competitive labor market, monopsony
A) is also efficient.
B) creates a deadweight loss because it pays an excessive wage.
C) creates a deadweight loss because the wage is below the marginal revenue product of labor.
D) creates a deadweight loss because the wage is above the marginal revenue product of labor.
ANSWER
C
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