Consider the graph below. Compared to the competitive market equilibrium, what effect does a monopsonist have on the quantity of labor supplied? Is there a surplus or a shortage? a.) A shortage of labor is created (Q subscript E Q subscript M). b.) A shortage of labor is created (W subscript E W subscript M). c.) A surplus of labor is created (W subscript E W subscript M). d.) A surplus of labor is created (Q subscript E Q subscript M)