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.