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Relative to a competitive industry, a monopsonist employer will: a. Pay a lower wage; hire more workers; and face a shortage of labor. b. Pay

Relative to a competitive industry, a monopsonist employer will:

a. Pay a lower wage; hire more workers; and face a shortage of labor.

b. Pay a lower wage; hire fewer workers; and face a surplus of workers.

c. Pay a lower wage; be economically efficient; and hire more workers.

d. Pay a higher wage; be economically inefficient; and face a shortage of workers.

e. None of the above is completely correct.

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