1.) Which of the following is correct about a monopsonistic market?

Group of answer choices

Resources are efficiently allocated.

There is one seller and many buyers.

The monopsony has a lower quantity transacted as in a perfectly competitive market, ceteris paribus.

The supply curve is horizontal and is equal to the average cost of labor.

Purchase of an additional unit decreases the price of that unit and of the existing units being purchased.

2.) The graph below represents the labor supply curve of a monopsonistic firm.