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A graph depicting the labor market in monopsony through demand curve intersecting the supply curve and marginal revenue curve. Long description: The markings in the
A graph depicting the labor market in monopsony through demand curve intersecting the supply curve and marginal revenue curve. Long description: The markings in the X-axis are 0, W3, W2, W1, W0, and markings in the Y-axis are 0, Q3, Q1, Q2. The coordinates in the MRC curve are W3 and Q3, W1 and Q1. The coordinates in supply curve are W3 and Q1, W2 and Q2. The coordinates in demand curve are W2 and Q2, W1 and Q1, W0 and Q3. Refer to the graph. If this labor market was operating under a monopsony, the equilibrium wage rate would lead to Question 17 options: the hiring of W2 and Q1 workers. the hiring of W1 and Q1 workers. the hiring of W2 and Q2 workers. the hiring of W3 and Q1 workers
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